Union Budget 2022 | Textile sector allocation to increase 8.1% for FY23

The Hindu

Tuesday, February 01, 2022 09:47:45 PM UTC

Bulk to fund CCI for cotton purchases

Allocation for the textile sector will see an 8.1% increase in FY23 compared with the revised budget allocation for FY22.

According to the Union Budget presented on Tuesday, of the total allocation of ₹12,382 crore for the textile sector for next financial year, ₹133.83 crore is for Textile Cluster Development Scheme, ₹100 crore for National Technical Textiles Mission, and ₹15 crore each for PM Mega Integrated Textile Region and Apparel parks scheme and the Production Linked Incentive Scheme.

The Centre has also allocated ₹105 crore for FY23 towards the Raw Material Supply Scheme.

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