How the recent announcement of rise of custom duty on import of raw silk will affect the farmers ?

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answered Mar 5 by prashant1984 (20,280 points)

The recent Union Budget announcement of a rise in customs duty on import of raw silk from five per cent to 15 per cent has brought cheer to silk farmers in the southern states.

what is silk-Silk is made of proteins secreted in the fluid state by a caterpillar, popularly known as ‘silkworm’.
-These silkworms feed on the selected food plants and spin cocoons as a ‘protective shell’ to perpetuate the life.
-man interferes this life cycle at the cocoon stage to obtain the silk.
-Silk production is regarded as an important tool for economic development of a country as it is a labour intensive and high income
generating industry.
- Geographically, Asia is the main producer of silk in the world and produces over 95 % of the total global output.
- Bulk of it is produced in China and India,followed by Japan, Brazil and Korea. China is the leading supplier of silk to the world. India is the second largest producer of silk and also the largest consumer of silk in the world.

How will it benefit the domestic industry-It will directly benefit farmers and reelers,as this will stabilise the price of cocoons and raw silk in the domestic market.
- Our imports will get reduced and, thereby,it will be an encouragement and inspiration for local rearers to go for import substitutes and buy bivoltine silk.
- It will also boost production-gradable silk in the domestic market, as the increase in duty will bring down the dependence on imported raw silk.
- The rise in import duty will also encourage farmers to take up sericulture on a larger scale and contribute towards quality raw silk production and attaining self-sustenance

-In total, we are aiming to eliminate imports by 2022.

What are the measures taken by the Central Silk Board?
- To bridge the gap between demand and supply they have set a target of producing 32,000 tonnes of raw silk, an increase of 39% over the current production during the 12th Five Year Plan.
- The government has planned to encourage
silk farmers through various programmes
- C l u s t e r  P r o m o t i o n  P r o g r a m m e ,C a t a l y t i c  D e v e l o p m e n t P r o g r a m m e ,Rashtriya Krishi Vikas Yojana and others.

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