Related Keywords: Budget 2014-15, finance minister Arun Jaitley, labour intensive textile industry, modernisation and upgradation of textiles industry, Technology Upgradation Fund Scheme, TUFS
The forthcoming first Budget 2014-15 of the new government in India is likely to enhance incentives to the labour-intensive textile industry which will boost its exports and manufacturing productivty.
The government may increase allocation for the Technology Upgradation Fund Scheme (TUFS) in the Budget as part of the support to the textiles sector. TUFS was launched in 1999 to facilitate modernisation and upgradation of the textiles industry by extending credit at lower interest rates to entrepreneurs both in the organised and the unorganised sector.
