Home / Knowledge / News / Textiles / CM vows immediate release of loan waiver amount
CM vows immediate release of loan waiver amount
31
Dec '10
Andhra Pradesh Chief Minister N Kiran Kumar Reddy, who recently assessed the problems of the powerloom and sericulture sector, agreed to immediately release the first instalment of the loan waiver amount that is Rs 870 million, as per their promise and to release another Rs 2.24 billion by March, 2011.

Further, the State Minister for Textiles – Shankar Rao, while speaking to the media, stated that the CM has also raised the subsidy on yarn purchases from 10 to 20 percent. Around four lakh weavers' families are expected to benefit from the move, he said. He further added that the State Government also proposes to reinstate a thrift scheme with the state and the Centre contributing four percent towards the same.

He also stated that as the silk yarn prices have gone up from Rs 1,600 to Rs 3,300, the government has resolved to float a subsidy scheme where each of the weaver's family would get Rs 800. The scheme is seen to benefit around one lakh weavers' families.

Also, the reports revealed that the government proposes to reintroduce the 50 percent power subsidy for the powerlooms, immediately.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 19th Aug 2017

New fabric interfaces to interact with computers

As computer capabilities evolve, new fabric-based interfaces are...

Textiles | On 19th Aug 2017

Brazilian cotton prices drop in first fortnight of August

Cotton prices dropped in the Brazilian market in the first fortnight...

Apparel/Garments | On 19th Aug 2017

Target to acquire Grand Junction for faster deliveries

Target Corporation has announced that it has agreed to acquire Grand...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Top executives
Textile industry

The foremost issue is bridging the skill gap

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Johan Berlin
InvestKonsult Sweden AB

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

August 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
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

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
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

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
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

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
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


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