Andhra 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.