The textile industry is upbeat on the elimination of mandatory Central Value Added Tax (CENVAT).

Industry leaders say the measures will give timely push to the industry, which is at the threshold of free trade in international markets.

The textile industry across the country has welcomed the union budget presented on Thursday and a duty cut in cotton yarn from 8 to 4 per cent has added to their joys.

"The budget presented by the finance minister is a welcome one as far as the textile industry is concerned, but he has not outlined any detailed measures of investment of duty drawback and other applicability," said Vijay Venkataswamy, chairman of South India Mills Association.