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Textile minister promises to end TUFS mess
Apr '15
The government has assured the textile industry that it will soon resolve the issue of pending claims under its technology upgradation scheme, according to media reports.
The Textile Upgradation Fund Scheme (TUFS) is an interest subsidy scheme for upgradation of technology as part of measures to boost textile and jute sectors.
“The textile industry has been facing issues like non-allocation of around Rs 3,000 crore to meet pending cases under TUFS, which include committed liability, left out cases and blackout period. I had a talk with the Finance Minister and the Prime Minister about this issue and I can assure you that the issue will be resolved soon,” textiles minister Santosh Kumar Gangwar told textile traders in Ahmedabad recently.
Gangwar also suggested the industry to take up the issue with the Prime Minister.
He was interacting with textile traders on TUFS issues including non-allocation of subsidy and delayed reimbursement at the Gujarat Chamber of Commerce and Industries (GCCI) in Ahmedabad. (SH)

Fibre2fashion News Desk - India

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