Home / Knowledge / News / Textiles / CM vows immediate release of loan waiver amount
CM vows immediate release of loan waiver amount
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 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Apparel/Garments | On 26th Jun 2017

Enterprise Mauritius leading delegation to Fashion SVP

Enterprise Mauritius is leading a delegation of local apparel...

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Kaizad Hansotia

Competition is the best thing that can happen to a startup

Mohammad Hassan
Biax Fiberfilm

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

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silke Brand-Kirsch
Schlegel und Partner

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

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Judy Frater
Somaiya Kala Vidya

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
June 2017

June 2017

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


Browse Our Archives


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