Rs.1,000 crore has been made towards the Remission of State Levies (ROSL) whereas Rs. 700 crore has been allocated for the Amended technology Upgradation Fund Scheme (ATUFS) for the next fiscal year.
An amount of Rs 5,831.48 crore has been allocated by the Finance Minister, Piyush Goyal for the textile Ministry for 2019-20. The amount is 16.01 per cent lower than the current fiscal year. According to the Budget document shown in Parliament on February 1, the revised expenditure for the Textile ministry has been fixed at Rs 6,943.26 crore during 2018-19. The original budget proposal was Rs. 7,147.73 crore for the funding of various programmes and schemes for the Textile Industry.
According to Confederation of Indian Textile Industry Chairman Sanjay Jain, the low allocation for ATUF & ROSL schemes for textiles is disturbing as it is not sufficient to meet obligations under the projects. He further added that since this is an interim budget, they hope more funds will be allocated for these schemes.
According to the budget document, Rs.1,000 crore has been made towards the Remission of State Levies (ROSL) whereas Rs. 700 crore has been allocated for the Amended Technology Upgradation Fund Scheme (ATUFS) for the next fiscal year.
