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Budget promises more benefits to textile industry

28 Feb '06
1 min read

Shares of Indian food processing companies and textile manufacturers increased today after P Chidambaram, Finance Minister of India promised more benefits in Budget 2006-07.

The minister said that bank would lend money to food processing considering it as priority sector.

He also added the government would promote textile industry by raising Textile Upgradation Fund (TUF) to Rs535 crore.

Other industries such as auto, leather and tourism would also be encouraged by government for jobs.

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