Home / Knowledge / News / Textiles / Orissa set to implement centre's handloom sector package
Orissa set to implement centre's handloom sector package
14
Aug '12
The Government of Orissa, a state in eastern India, has entered into a Memorandum of Understanding (MoU) with the National Bank for Agricultural and Rural Development (NABARD) and the Central Government for implementation of the Rs. 30 billion package that the Centre announced almost eight months back for revival, reform and restructuring of the handloom sector.
 
The Central Government package includes a loan waiver scheme for all states, including Orissa.
 
The package focuses on clearing the choked lines of credit flow to the handloom industry, extending fresh credit flow with interest subvention and credit guarantee, and effecting legal and institutional reforms in the sector.
 
Highlighting the main points of the package, Sarojini Hembram, Minister of State for Textiles and Handlooms, said the package aims at extending recapitalization assistance to the Apex and Primary Weavers’ Cooperative Societies that were viable or potentially viable as on March 31, 2010. 
 
About 5,861 individual weavers, 1,594 self help groups and 435 Primary Weavers’ Cooperative Societies are expected to benefit from the package, she said.
 
Also, under the package it is proposed to waive loans that individual weavers would have obtained from banks for handloom purposes, to the tune of up to Rs. 50,000 per weaver, the Minister said.
 
She informed that in lines with the MoU, NABARD has approved the claim worth Rs. 78.7 million made by regional rural banks (RRBs) for waiving overdue loans of individual weavers. 
 
Waiver of the loan, which includes 100 percent principal and 25 percent interest, would be borne by the Central Government and the state government in the ratio of 80:20, while the rest 75 percent interest would be borne by the concerned banks, the Minister said.
 
The Government of Orissa has already made a provision of Rs. 300 million for this purpose in the State Budget 2012-13, she added.
 

Fibre2fashion News Desk - India


Must ReadView All

Chinese firm sets up textile-garment chain in Vietnam

Apparel/Garments | On 13th Dec 2017

Chinese firm sets up textile-garment chain in Vietnam

Worldon Vietnam Co. Ltd under the Chinese Shenzhou Group is likely to ...

Courtesy: SATO Global Solutions

Information Technology | On 13th Dec 2017

Sensor networks improve inventory management

Sensor networks like radio frequency identification (RFID) and smart...

CMAI hails review of FTP as 'progressive package'

Apparel/Garments | On 13th Dec 2017

CMAI hails review of FTP as 'progressive package'

The Clothing Manufacturers' Association of India (CMAI) has hailed...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search