There is no plan to enhance the capital subsidy for powerlooms from the present 10 per cent to 30 per cent, she said responding to a question.

Forty eight yarn bank proposals and 118 group work shed proposals have been approved In fiscal 2017-18, she said, according to a report in a top Indian daily.

The ministry of textiles announced the yarn bank scheme under Power Tex India to provide interest-free corpus fund to special purpose vehicles or consortiums, enabling them to purchase yarn at wholesale rates and offer at a reasonable price to small weavers. (DS)

Fibre2Fashion News Desk – India