{"id":31626,"date":"2024-07-26T15:23:35","date_gmt":"2024-07-26T09:53:35","guid":{"rendered":"https:\/\/dailynewsindia.co.in\/index.php\/2024\/07\/26\/union-budget-2024-25-growth-oriented-and-futuristic-chairman-matexil\/"},"modified":"2024-07-26T15:23:35","modified_gmt":"2024-07-26T09:53:35","slug":"union-budget-2024-25-growth-oriented-and-futuristic-chairman-matexil","status":"publish","type":"post","link":"https:\/\/dailynewsindia.co.in\/index.php\/2024\/07\/26\/union-budget-2024-25-growth-oriented-and-futuristic-chairman-matexil\/","title":{"rendered":"\u201cUnion Budget 2024-25- Growth Oriented and Futuristic\u201d- Chairman , MATEXIL\u00a0"},"content":{"rendered":"
\n

Mumbai (Maharashtra) [India], July 26:<\/strong> The Union Budget for 2024-25 was announced by the Hon\u2019ble Union Finance Minister , Smt. Nirmala Sitharaman on July 23, 2024<\/p>\n

Welcoming the Budget, Shri Bhadresh Dodhia, Chairman, MATEXIL ( Man-Made and Technical Textiles Export Promotion Council ) \u2013 ( Formerly SRTEPC) said \u201cthe Union Budget for 2024-25 is growth oriented , pragmatic and progressive as it focus on crucially important areas such as\u00a0 Employment\u00a0 generation , Skill development and Investments\u201d.\u00a0 The Budget propose to introduce Employment linked incentives and Skilling programmes which will certainly lead to job creation in\u00a0 manufacturing in the Textiles and clothing Sector, according to Shri Dodhia.<\/p>\n

The Budget has proposed a Credit Guarantee Scheme to\u00a0 the MSMEs\u00a0 to enable them to get term loans for purchase of machinery and equipment without collateral or third party guarantee. Shri Bhadresh Dodhia pointed out that getting credit facilities from the banks for business operations\u00a0 \u00a0have always been a challenge\u00a0 for the MSMEs and the Credit Guarantee Scheme announced in the Budget will encourage the growth and development of the MSMEs .\u00a0\u00a0<\/p>\n

The Chairman MATEXIL appreciated the Budget proposal to provide internship opportunities for youths in top Companies to 1cr youth in 5 years . The budget has reduced Customs duties on Methylene Dipheaye isocyanate (MDI) -used in the manufacture of Spandex Yarn from 7.5 to 5%. Spandex yarn is used widely in the production of textile garments and technical textiles and this duty reduction will reduce production cost , pointed out\u00a0 \u00a0Shri Dodhia .\u00a0<\/p>\n

\"\"<\/figure>\n

The budget outlay for RoDTEP and RoSCTL Schemes\u00a0 has been increased. Shri Bhadresh Dodhia urged the Government to increase the rates under these schemes for textiles & clothing .\u00a0\u00a0<\/p>\n

\u00a0The Chairman, MATEXIL appealed to the Government to rectify the inverted duty structure in GST in the case of manmade fibre textiles and to reduce the rate of GST rate on plastic bottles from 18% to 5% .<\/p>\n

Shri Bhadresh Dodhia expressed his\u00a0confidence that the announcements in the Union Budget for 2024-25\u00a0will lead to improvement in business sentiments and overall development of the Country including employment generation.\u00a0www.matexil.org<\/a><\/p>\n

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Mumbai (Maharashtra) [India], July 26: The Union Budget for 2024-25 was announced by the Hon\u2019ble Union Finance Minister , Smt. Nirmala Sitharaman on July 23, 2024 Welcoming the Budget, Shri Bhadresh Dodhia, Chairman, MATEXIL ( Man-Made and Technical Textiles Export Promotion Council ) \u2013 ( Formerly SRTEPC) said \u201cthe Union Budget for 2024-25 is growth…<\/p>\n

Read More “\u201cUnion Budget 2024-25- Growth Oriented and Futuristic\u201d- Chairman , MATEXIL\u00a0”<\/span> »<\/a><\/p>\n","protected":false},"author":1,"featured_media":31627,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[54],"class_list":["post-31626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/31626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/comments?post=31626"}],"version-history":[{"count":0,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/31626\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media\/31627"}],"wp:attachment":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media?parent=31626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/categories?post=31626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/tags?post=31626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}