New Delhi: The government is willing to review controversial duty rationalisation steps like ad valorem structure for the textile mills and excise imposition on the garment sector Finance Minister Yashwant Sinha said on Tuesday.

"Tax proposals are the property of Parliament. However the areas calling for reviews will be reviewed," Sinha said.

The Finance Minister, while replying to a question on whether the government would do away with contentious issue of ad valorem and duty on garments, said, "If certain changes in duty structure have not met with the expected response and if there are problems created, I am prepared to discuss with an open mind. While revenue is a consideration, it is not our desire to create hardships for the industry."

When asked about the fate of the sick mills of the National Textile Corporation, Sinha replied, that the group of ministers, which he is heading has reached some "positive" conclusions which would now be taken to the Cabinet.

"We are trying our best to ensure that as many mills are revived as possible. The approach is very positive," he said.

Revival of NTC mills hinges upon a financial package exceeding Rs 1,500 crore including waiver of interest. Sinha said there was a conflict of interest within the textile industry. But the government would like to meet out a fair treatment to all the segments of the industry. "It will be sad if one segment destroys the other," he said.

UNI

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