Owing to the unorganised nature of the sector there are several problems that the weavers face which have compounded in the recent times. This has led to closure of many handloom units and thus has resulted in massive unemployment.
As an economy, India is largely dominated by the services industry, which contributes more than 52% to the GDP of India. In fact, over the last half decade, the meteoric rise of e-commerce companies has only added to the momentum.
As Union Budget 2016 is around the corner, main expectation of city industrialists and businessmen is a hike in the excise duty limit, taking it up to Rs5 crore and a reduction of corporate tax from 30% to 20%.