The textile industry has welcomed the budgetary allocation for textile sector of Rs. 7,148 cr for 2018-19 against Rs. 6,222 cr last year and the announcements pertaining to the MSME sector. In order to reduce the tax burden on MSMEs, the corporate tax has been reduced to 25 per cent who have reported turnover up to Rs. 250 cr will benefit textiles sector as it’s primarily in the MSME segment. This will give a big thrust to MSMEs to boost employment and economic growth.