It may be recalled that the Inter-Ministerial Steering Committee in its meeting in May 2012, has approved R-TUFS for year 2012-13 and has directed the government to continue to fund the scheme accordingly.

Giving details, a senior government official told fibre2fashion, “Under the current guidelines, there is no time limit to apply for the R-TUFS subsidy. However, considering the constraints, it had been decided to accept subsidy claims only within one year from sanction of the term loan”.

He added, “However, in respect of 20%MMS / 15%MMS cases operated by Office of the Textile Commissioner, the companies which have not yet applied to claim subsidy within one year of sanction of the term loan, can now apply for subsidy claims at Regional Offices of The Textile Commissioner upto December 31, 2012 and thereafter claim application preferred after one year period will not be entertained.

The guidelines for online applications being submitted/ operated by lending agencies/ banks under TUFS have been issued separately.

Fibre2fashion News Desk - India