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LOOPHOLES IN GOVT FUNCTIONING TO AFFECT TEXTILE INDUSTRY?

Mr.ShanmugaSundaram , member of Parliament raised two major issues in the Parliament in the question hour . First is about the subsidy for beneficiaries under the TUFS scheme and secondly including yarn and fabric for benefits under Remission of State and Central Taxes and Levies (RoSCTL) scheme .

Under the scheme ,Rs. 10,000cr money was to be paid in total to the textile units . Out of this , Rs.1,000cr had to be paid to Coimbatore and Tirupurdistricts which they haven’t received . Moreover , the disbursement has been irregular . Even the provision of subsidies wasn’t adequately implemented . Under the scheme , the export benefit was given to garments and made – ups . Extension of the same provision to yarn and fabric was their concern .Thus , they pleaded the govt to extend the scheme to yarn and fabrics which includes remission of embedded taxes .

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