EPCH urges centre to bring furniture sector under PLI scheme

Jaipur, Feb 21 (KNN) Union Finance Minister Nirmala Sitharaman on Monday held a post-budget discussion with industry representatives from Rajasthan to address the challenges being faced by various industries.

During the interaction, Dileep Baid, vice-chairman of Exports Promotion Council for Handicrafts (EPCH) urged the finance minister to include the furniture sector in the Production Linked Incentive (PLI) scheme.

“Furniture industry in India is dominated by micro and small units. In order to scale up the production and exports, the centre is regularly adding new potential sectors in the PLI scheme. Keeping in view the immense potential that wooden handcrafted furniture has, this segment may also kindly be considered under the PLI Scheme,” he said.

In the meeting, the representatives of the real estate industry raised the issue regarding the banks not supporting the affordable housing segment despite it being given infrastructure status.

Dhirendra Madan, president of Confederation of Real Estate Developers Association of India (Credai) said, “Unfortunately the banking sector doesn’t seem to be supportive of this larger intent of the Centre. Affordable housing sector is clubbed with real estate sector and is not accorded priority sector lending status.”

“There needs to be a mechanism to ensure targets for developer finance under affordable housing at a bank level or state level is spelt out and performance data is monitored in a transparent manner,” he said.

Federation of Rajasthan Trade and Industry (FORTI) also made a representation on various issues related to budgetary changes.

FORTI president Suresh Agarwal raised the issue of increase of TCS on certain foreign remittances and on sale of overseas tour packages.  (KNN Bureau)