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Textiles ministry may get marginal budget increase of 2.5%
Mint Mumbai
|January 30, 2024
The textile ministry is expected to get a marginal budget increase of 2.5% for the fiscal year 2025, taking its allocation to $4,500 crore, two persons aware of the matter said.
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The proposed budget for the upcoming fiscal year shows an increase of ₹110 crore compared with the current fiscal year's allocation of ₹4,389 crore.
While the government aims to position India as a global player in textiles, the marginal uptick in allocation may pose a challenge to the ministry in utilizing its budget effectively.
However, the continued budget boost, even though marginal, shows the government's commitment towards developing and promoting the textile sector to enhance India's global standing in this industry.
Queries sent to the ministries of finance and textiles remained unanswered till press time.
Esta historia es de la edición January 30, 2024 de Mint Mumbai.
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