JOIN USState to get yarn bank soon, announces Smriti
Union Minister of Textiles, Information and Broadcasting Smriti Irani, on Sunday, said that a yarn bank would be established in the state at a cost of Rs five crore.
She was speaking on the sidelines of the launch of the portal and mobile app for PowerTex India at 'Textiles in Karnataka,' a buyer-seller meet-cum-facilitation camp in the city.
The minister said there was a need for more than one yarn bank as there was a growing need. The ministry had learnt that weavers were finding it difficult to get the yarn.
Smriti said the state government was neglecting the welfare of weavers. She said if the state government provided land to the ministry, a textile park would be established here. Weavers would benefit a lot from the textile park. She said investors and those establishing an unit at the park would get 50% subsidy.
She announced a scheme for the children of the economically weak who are enrolled in the distant education programme. The central government will pay 75% of their fees, the minister said.
To upgrade powerlooms, the central government would provide Rs 20,000 and 50% subsidy would be given to those who instal solar power panels at their units. Also, loans would be disbursed at 4% interest under Mudra Yojana to those keen on establishing textile units, she added.
Ananth Kumar, Union Minister for Parliamentary Affairs and Chemicals and Fertilisers, said the state should get the Textile Park as it would help the textiles sector.