Textile sector will be emphasized, says Chidambaram
28 Feb '06
1 min read
P Chidambaram, Finance Minister, is expected to most probably approve textile ministry's proposal to cut down customs and excise duties for the sector.
While customs duty on man-made fibres may come down to 8-10 percent from 15 percent, that on man-made staple fibres and man-made yarns expected to be reduced from 16 percent.
Duty cuts are also expected in other categories like that on textile machines.
Chidambaram, during his pre Budget discussion with industry organizations, assured that textiles would be one of the major focus areas in the Budget.
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