 "textile industry")
The government is considering a two-year moratorium for debt repayment to help financially stressed textile units.
This is to ease the liquidity crisis being faced by them because of a delay in refund of the Goods and Services Tax (GST) and other levies.
People in the know said the Union Ministry of Textiles, under the leadership of Smriti Irani, has made a recommendation to the Ministry of Finance. It is in an advanced stage of approval.
“Currently, the textile industry is facing huge liquidity problems because of a delay in refund of the Merchandised Export from India Scheme and the
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