Following the announcement of Union Budget 2022-23, Ravi Sam, Chairman, The Southern India Mills’ Association (SIMA) hailed the various announcements made with regard to infrastructure development, productivity improvement, digital world, industry 4.0, skill development with hub & spoke model infrastructure facilities.
“It is heartening to note that the country is expected to grow at 9.27% in the coming year, a phenomenal achievement for any country in the post-COVID period”, says Mr.Ravi Sam. He welcomed the decision of extending Emergency Credit Loan Guarantee Scheme (ECLGS) till March 2023 to enable certain segments to gear up and achieve its potential growth.
SIMA Chairman said that the allocation of Rs.17,683 crores to Cotton Corporation of India (CCI) to procure cotton for the years 2021-22 and 2022-23 under Minimum Support Price will help CCI to wipe out its losses incurred for procurement of over two crores bales of cotton during the last two years that had greatly benefited the farmers to sustain the area under cotton.