Package for handloom sector

02 Jul '09

1 min read

The Government of India has formulated a Financial Package of Rs.3000 crore for waiver of the overdues of loans of the handloom cooperatives of the country and also, to provide loans at concessional rates of 7% per annum.

The package has been sent to the Ministry of Finance. This was stated by the Minister of State for Textiles, Smt. Panabaaka Lakshmi in the Lok Sabha, in a written reply to a question by Dr. M. Thambidurai.

Furthermore, the Government of India is implementing the following scheme for development and welfare of the handloom weavers.

(i) Integrated Handlooms Development Scheme
(ii) Marketing and Export Promotion Scheme
(iii) Handloom Weavers Comprehensive Welfare Scheme
(iv) Mill Gate Price Scheme
(v) Diversified Handloom Development Scheme.

The Minister further informed that the Government of Andhra Pradesh, Tamilnadu, Karnataka, Tripura and Chhatisgarh has reported that handloom units in their States are not facing any threat of closure whereas the State Governments of Assam, Uttar Pradesh, Rajasthan, Mahatrashtra and Orissa have informed that some of the handloom units are facing threat of closure on account of competition from the mechanized sector, non-availability of credit, non-adaptability with the market requirements etc..

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