Press Esc to close
Saturday 24 June 2017
News updated at 3:18 AM IST

Chidambaram proposes Rs.2,400 crore to powerloom sector

New Delhi, Feb 28, 2013 (IANS) 17:06 IST
Finance Minister P. Chidambaram Thursday proposed Rs.2,400 crore (approx $430 million) to modernise the powerloom segment under the technology upgradation fund scheme (TUFS) for the textile sector.

"I propose to continue the TUFS for the textile sector in the 12th Plan with an investment target of Rs.151,000 crore," Chidambaram said while presenting the union budget 2013-14 to the lower house of parliament.

According to him, the budget also proposes to set up apparel parks within integrated textile parks with an allocation of Rs.50 crore to the textile ministry.

The finance minister also proposed to provide Rs.50 crore for integrated processing development scheme which will be implemented in the 12th Plan period to address the environmental concerns of the textile industry.

The total outlay of the scheme in the 12th Plan period is estimated to be about Rs.500 crore.

Chidambaram also voiced his concern over the handloom sector which he called "in distress" and proposed to provide working capital and term loans at a concessional interest of six percent.

"I propose to allocate an additional sum of Rs.96 crore in 2013-14 to the ministry of textiles for interest subvention," he said.

The finance minister added that the budget will leverage assistance from multilateral development banks to extend scheme for funds for regeneration of traditional industries (SFURTI) to 800 clusters during the 12th Plan with a planned outlay of Rs.850 crore.

Go to Top

Photo Gallery
NDA's presidential nominee Ram Nath Kovind flanked by Prime Minister Narendra Modi, BJP chief...

NDA's presidential nominee Ram Nath Kovind flanked by Prime Minister Narendra Modi, BJP chief...

A police officer offers supports to the son of slain DSP Mohammed Ayub Pandit to pay respects to...

A police officer offers supports to the son of slain DSP Mohammed Ayub Pandit to pay respects to...

Members of Majlis-e-Ulama-e-Hind (Delhi state) burn an effigy during a protest against Israel at...

Members of Majlis-e-Ulama-e-Hind (Delhi state) burn an effigy during a protest against Israel at...

Indian Space Research Organisation (ISRO)'s PSLV C38, carrying earth observation satellite...

Indian Space Research Organisation (ISRO)'s PSLV C38, carrying earth observation satellite...

Muslims take cover with a cloth to protect themselves from scorching heat as they offer last...

Muslims take cover with a cloth to protect themselves from scorching heat as they offer last...

BSF personnel take part in a cycle rally at India Gate to aware people against drugs in New Dehi...

BSF personnel take part in a cycle rally at India Gate to aware people against drugs in New Dehi...

Angry students burn railway properties during a violent protest against Central government over...

Angry students burn railway properties during a violent protest against Central government over...

Former Union minister Nagmani showing a bullet which was fired from an unidentified assailant...

Former Union minister Nagmani showing a bullet which was fired from an unidentified assailant...

Children are seen near the entrance gate of Maroda Village which was renamed as 'Trump Village'...

Children are seen near the entrance gate of Maroda Village which was renamed as 'Trump Village'...

Children play football in mud after rainfall in Kolkata on Friday. PTI

Children play football in mud after rainfall in Kolkata on Friday. PTI

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.