AEPC, N.Goenka, Chairman: The extension of the Emergency Credit Line Guarantee Scheme (ECLGS) to bring relief to apparel exporters
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04 February 2022, Mumbai:
Narender Goenka, Chairman, AEPC says, the extension of the Emergency Credit Line Guarantee Scheme (ECLGS) and increasing coverage by Rs 50,000 crore, will bring some relief to apparel exporters which fall under the MSME category.
Goenka also calls the Union Budget growth oriented and says it will create opportunities for investments, exports and employment while simplifying the procedures. He appreciated the government for announcing 35 per cent increase in capital expenditure to Rs 7.5 lakh crore for FY23 saying that it will accelerate overall growth of the economy through investments amid disruptions due to intermittent lockdowns.
The extension of benefit of 15 per cent tax for the newly incorporated manufacturing units by one more year to March 2024 will bring in fresh investments, adds Goenka.
It would specifically help in bringing in new investment in the new units under Production Linked Incentive (PLI) scheme for MMF garments, MMF fabrics and technical textiles, he states.
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