Chairman, Siyaram Silk Mills
Prima facie this seems to be a good budget, under the current circumstances. It offers a clear roadmap on the path to be taken towards growth trajectory by giving thrust on infrastructure developments in the areas of power, roads, industrial corridor, revamping of SEZs, etc.
It is also heartening to note that provision of investment allowance has been introduced i.e. 15 per cent deduction of the investment made in plant and machinery above Rs 25 crore. This will boost capital investment in various sectors and promote employment and growth.
Export entitlement on readymade garment exports has been increased from 3 per cent to 5 per cent. This shall incentivise exports. Also, duty on textile and readymade garments has not been changed. Setting up of textile clusters at six places will also help in improving the industry prospects. All these are good steps.