AP Handloom Sector To Get Loan Waiver

AP Handloom Sector To Get Loan WaiverAndhra Pradesh, chief minister, Mr. N. Chandrababu Naidu has declared that loans of all the handloom units in the state would be waived.

Addressing a handloom workers convention, he said that the state government would purchase the unsold stocks of handloom workers and their co-operative societies. The government would release Rs. 10 crore to purchase the stocks from weavers and societies and sell those stocks in the market at a concession.

Mr. Naidu also announced 20 per cent subsidy on the purchase of yarn for handloom sector.

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