Press Esc to close
Saturday 25 April 2015
News updated at 9:26 PM IST
Weather
Max: 33.4°C
Min : 21.6°C
In Bengaluru
Sunny day
Breaking News

Chidambaram proposes Rs.2,400 crore to powerloom sector

New Delhi, Feb 28, 2013 (IANS)

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
Sadhus standing on the debris of a temple that collapsed following a tremor in Ayodhya...

Sadhus standing on the debris of a temple that collapsed following a tremor in Ayodhya...

School children come out of their class rooms folliowing s tremor in Lucknow...

School children come out of their class rooms folliowing s tremor in Lucknow...

The debris of a collapsed building after a powerful earthquake in Kathmandu...

The debris of a collapsed building after a powerful earthquake in Kathmandu...

A damaged road after a powerful earthquake in Kathmandu...

A damaged road after a powerful earthquake in Kathmandu...

Indian security personnel stands near a collapsed house after an earthquake...

Indian security personnel stands near a collapsed house after an earthquake...

A damaged road after a powerful earthquake in Kathmandu...

A damaged road after a powerful earthquake in Kathmandu...

A car stands under the weight of an electric pole after it collapsed following an earthquake...

A car stands under the weight of an electric pole after it collapsed following an earthquake...

Earthquake at Durbar Square in Kathmandu..

Earthquake at Durbar Square in Kathmandu..

Rescuers clear the debris at Durbar Sqaure after an earthquake in Kathmandu...

Rescuers clear the debris at Durbar Sqaure after an earthquake in Kathmandu...

People stand around damage caused by an earthquake at Durbar Square in Kathmandu...

People stand around damage caused by an earthquake at Durbar Square in Kathmandu...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523