TEA president Raja Shanmugam addressed the media regarding the new budget announced by the Central Government.
Tirupur: Finance Minister Nirmala Sitharaman todayannounced the budget for the year 2021-2022. Post this announcement, Tirupur Exporter's Association President Raja Shanmugam met with the press in Tirupur.
During his address Raja Shanmugam stated that "Although we are not pleased with the budget, the 2021-22 budget has some significance like the establishment of 7 Textile Parks in India with 2 Textile Parks in Tamilnadu.
We also appreciate the 1.50 intrest subsidy for building employees quarters, but the 10% tax for cotton import will cause an upsurge in the price of cotton threads which will affect the exporters of the country."
Tirupur Exporter's Assosiation President Raja Shanmugam then said that the union is going to make a request to the government regarding the tax issue.
During his address Raja Shanmugam stated that "Although we are not pleased with the budget, the 2021-22 budget has some significance like the establishment of 7 Textile Parks in India with 2 Textile Parks in Tamilnadu.
We also appreciate the 1.50 intrest subsidy for building employees quarters, but the 10% tax for cotton import will cause an upsurge in the price of cotton threads which will affect the exporters of the country."
Tirupur Exporter's Assosiation President Raja Shanmugam then said that the union is going to make a request to the government regarding the tax issue.