Home / Knowledge / News / Textiles / Indian Govt waives off Rs 1.11bn in handloom weavers loans
Indian Govt waives off Rs 1.11bn in handloom weavers loans
20
Dec '12
In pursuance to the Budget announcement (2011-12), ‘Revival, Reform and Restructuring package for "Handloom Sector”, having financial implication of Rs. 3884 crore, has been approved by the CCEA on 24.11.2011. 

Of this Rs. 3884 crores, Government of India’s share is Rs. 3137 crore and that of State Governments, is Rs. 747 crore.  

As per the guidelines of said package, State Governments are required to sign a memorandum of understanding (MoU) as a token of their commitment to contribute State share for the implementation of Financial Package in their States and effecting legal and institutional reforms of Handloom cooperative societies.  

So far 23 States (except Chhatisgarh, Nagaland and Punjab) have signed MoU including the State of Andhra Pradesh and states have released altogether Rs. 62.95 crore towards their share.  

Special audit of 19 Apex and 5451 Primary Weavers Cooperative Societies (PWCSs) have been completed. NABARD has released a sum of Rs. 232.72 crore to the banks/cooperative societies for loan waiver.

For Andhra Pradesh, a sum of Rs.100.16 crores has been released for loan waiver for one Apex (Rs. 68.44 crore) and 249 PWCSs (Rs. 31.72 crore). In addition to that, NABARD has also released Rs. 10.83 crores for loan waiver of 6,033 individual weavers.            

Ministry of Textiles

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Textiles | On 30th Mar 2017

Lok Sabha approves 4 supplementary GST legislations

The Lok Sabha has approved four supplementary Goods and Services Tax...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search