Interviews
TUFS assistance for 2006-07 not disbursed by most banks
07 May '07
3 min read
The fund requirements for the synthetic fibre industry would be huge and if these are to be sourced from the frugal allocation made for TUFS for the current year, the textile and clothing industry, for which the Scheme is being operated, will find it extremely difficult to get proper assistance under the Scheme.
I would therefore request you, on behalf of textile and clothing industry of India, that the serious implications of the Cabinet decision and the need for the smooth operation of TUFS for textile and clothing industry, may be explained to the Finance Minister and it may be ensured that any assistance given to synthetic fibre industry should not be allocated from the present TUFS scheme and also in no way, should it eat into the allocations made for the Scheme, specifically meant for the Textiles and Clothing Sectors.
Additional funds can be made available from the budget of the Ministry of Petrochemicals if at all any assistance to synthetic fibre industry is to be provided.
I would therefore request you, on behalf of textile and clothing industry of India, that the serious implications of the Cabinet decision and the need for the smooth operation of TUFS for textile and clothing industry, may be explained to the Finance Minister and it may be ensured that any assistance given to synthetic fibre industry should not be allocated from the present TUFS scheme and also in no way, should it eat into the allocations made for the Scheme, specifically meant for the Textiles and Clothing Sectors.
Additional funds can be made available from the budget of the Ministry of Petrochemicals if at all any assistance to synthetic fibre industry is to be provided.
Confederation of Indian Textile Industry
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