Under the Amended Technology Upgradation Fund Scheme (ATUFS), Indian producers of madeups like blankets, curtains, crochet laces and bedsheets are now eligible for an additional 10 per cent Capital Investment Subsidy (CIS) of up to Rs.20 crore. The additional subsidy will be disbursed after a period of three years and is subject to a verification mechanism.
The textiles ministry informed that every eligible madeups unit which has availed 15 per cent benefit under ATUFS will be paid an additional 10 per cent capital investment subsidy on their investment up to an additional maximum cap of Rs.20 crore.
“Thus, the total cap on subsidy for such a unit is enhanced under ATUFS from Rs.30 crore to Rs.50 crore, of which Rs.30 crore is for 15 per cent CIS and Rs.20 crore for the additional 10 per cent CIS,” the ministry said.
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