New Scheme and More funds under Power Tex India Scheme
The Textiles Ministry for the Power Tex India Scheme is planning to seek Rs 33.27 crore that would be in the form of supplementary demand for grants, the minister said earlier this week in the Rajya Sabha, adding that of the Rs 126.76 crore allocated for 2017-18, out of which Rs 83.08 crore has already been spent till now.
R Vaithilingam of AIADMK has asked Irani that if the government is considering to enhance the capital subsidy for powerlooms in the country. She said there is no proposal yet on enhancing the capital subsidy from 10 – 30 per cent.
Irani also said that 48 yarn bank proposals and 118 group work shed proposals have been approved for the period 2017-18,. “Only two applications for group work sheds are pending,” Irani added.
She has announced the yarn bank scheme under Power Tex India with an objective of providing interest free corpus fund to special purpose vehicles or consortiums to enable them to purchase yarn at wholesale rate and give the yarn at a reasonable price to small weavers.
– Apparel and Textile News, Apparel Talk, Indian Apparel