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Allocation to cotton industry under TUFS - Ministry of Textiles

Mar '07
The funds allocation under the TUFS is not fibre-based. However, it would be relevant to mention that the Indian textile industry is pre-dominantly in favour of cotton at the ratio 62:38 (Cotton: non-cotton). The fund allocation under the TUFS during the last three years for all segments/fibres including cotton is as follows:

2003-04 - 249.07 Fund allocation (in Rs./crore)
2004-05 - 283.60 Fund allocation (in Rs./crore)
2005-06 - 485.00 Fund allocation (in Rs./crore)

This was stated by the Minister of State for Textiles, shri E.V.K.S. Elangovan in a reply to a question by S/Shri Tukaram Ganpatrao Renge Patil and V.K. Thummar in Lok Sabha. He further stated that the TUFS provides the following benefits to the Indian textile industry:

• 5% interest reimbursement of the normal interest charged by the lending agency on rupee term loan (RTL), or
• Coverage of 5% exchange fluctuation (interest & repayment) from the base rate on foreign currency loan (FCL), or
• 15% credit linked capital subsidy for SSI textile and jute sector, or
• 20% credit linked capital subsidy for powerloom sector, or
• 5% interest reimbursement plus 10% capital subsidy for specified processing machinery,
• 25% capital subsidy on purchase of the new machinery and equipments for the pre-loom and post-loom operations handlooms/upgradation of handlooms and testing & quality control equipments, for handloom production units.

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