Rs 59cr In Maharashtra Budget Towards Textile Subsidy

Maharashtra Budget Towards Textile SubsidyFor the development of textile industry in the state, Maharashtra finance minister, Sudhir Mungantiwar proposed an outlay of Rs 59.66 crore in his budget for the year 2015-16 towards interest subsidy of 5 to 7 per cent on long term loan of the eligible textile industrial units in the state under the Textile Policy.

Mungantiwar also proposed an outlay of Rs 28 crore towards 10 per cent capital subsidy on the long term loan of eligible textile industrial units in Vidarbha, Marathwada and North Maharashtra.

“For the regular scheme of power subsidy to power looms, an outlay of Rs 1232.53 crore is proposed,” the minister said.

It has also been proposed to start a new Industrial Cluster Development scheme to boost development of industrially backward areas. For this, an outlay of Rs 26.50 crore is proposed in the year 2015-16.

The government has launched a unique programme called ‘Make in Maharashtra’ with an objective of retaining the premium position of the state in industrial development and economic progress.

“Under the ‘Make in Maharashtra’ programme, the investors who are willing to invest in the state will be benefited by simplified and easier procedures while obtaining permissions to start an industry thereby reducing the time required to complete various procedures,” the minister added.

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