As Finance Minister P. Chidambaram was preparing to present the budget for the year 2007-08 before Parliament on February 28, there was increasing public debate about what the budget package would hold for different sectors of the economy. The textile industry has been urging the government to retain the Technology Upgradation Fund Scheme (TUFS) until the end of the 11th plan, in 2012. Keeping the scheme that long is said to be essential to maintain the tempo that the industry has been building up lately with expansion and modernisation program.
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