Ludhiana industry feels ignored

BUDGET BYTES: VIEWS FROM THE NORTH

Ludhiana industry representatives said the finance minister had "completely ignored" them in the union budget presented yesterday. Industry representatives termed budget announcements as grossly insufficient. It was only the extension of the "technological upgradation funds scheme" (TUFS) for textiles which was appreciated.

Speaking to Business Standard, SC Ralhan, regional chairman, Engineering Export Promotion Council, said industry in Punjab had been totally left out.

"We had expected more measures for technological upgrade and power generation in this region. Sadly, nothing came," he said.

The hosiery textile industry, expressed satisfaction as budget announced the extension of TUFS up to 2012. This would give an opportunity to entrepreneurs to contribute to the development of the industry.

"Budgetary support to textile parks and extension of the TUFS would give an opportunity to existing as well as prospective entrepreneurs. Textile industry stands to benefit a lot from these announcements," said Vinod K Thapar, president of knitwear club.