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Power looms urged to benefit Central schemes
 
Power looms urged to benefit Central schemes
Union Textiles Minister, Mr. Sankarsinh Vaghela has recently called upon the power-loom sector to exploit the opportunities offered by various government schemes. The Minister learnt that though powerloom sector accounts for about 65% in cloth production, the share in the drawal of government subsidies has been in the range of only 1-2%. Mr. Vaghela chaired the first meeting of reconstituted All India Powerloom Board.

A pilot project for linkage between 50 identified exporters and identified fabric producers for participation in the programme of upgradation of quality of fabrics. It was announced that the Government targeted to install/ upgrade 60.000 shuttleless looms within the remaining Tenth Plan.

After reviewing the sector the Ministry has identified certain issues for immediate attention. Collateral security for loans should be done away with; back-ended payment of subsidy should be reviewed; State Governments be asked ensure power supply to powerlooms; Schemes/procedures should be publicized in regional language; Subsidy under 20% CLCS should be released with bank loans are few among them.
Posted On : 9/6/2005 4:34:31 PM

 
 
 
Power looms urged to benefit Central schemes