Home / Knowledge / News / Textiles / Textile ministry deluged with TUFS claims
Textile ministry deluged with TUFS claims
20
Mar '10
A written statement recently presented before the Lok Sabha by Ms. Panabaaka Lakshmi, Minister of State for Textiles, states that as of now under the Technology Up-gradation Fund Scheme (TUFS), subsidy claims totalling to Rs. 5.55 billion have been received by the government from the textile industry.

Under TUFS, government gives subsidy to the textile units for up-gradation and installation of high-tech machinery.

The Minister divulged that as the scheme has received tremendous response, the budget allocated for the purpose has fallen short, as compared to the subsidy claims received. For 2010-11 fiscal, a budgetary allocation of Rs. 24 billion has been made towards TUFS.

While responding to another query, Lakshmi divulged that the proposals laid down by a high level committee which was constituted to study the issues concerning high cost of working capital and choking of credit lines in the handloom sector, are being considered by the government.

The committee has proposed to waive the outstanding interest and loans of the Handloom Weavers' Cooperative Societies.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Judy Frater
Somaiya Kala Vidya

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

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
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