<p>“...Rs 2,546 crore (under TUFS) will reach the beneficiaries in 72-hours,” Textile Minister Dayanidhi Maran told reporters here adding “during the slowdown this will help the industry...and bring lot of comfort to the industry”.<br /><br />He said by releasing the amount, the dues to the industry under the scheme till June 30, 2009 stand “cleared”.<br /><br />The fund would be transferred electronically through more than 121 financial institutions and banks to the accounts of 12,514 beneficiaries.<br /><br />Maran also said the ministry would approach Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee for more funds for the textile sector.<br /><br />Under the TUFS the government provides subsidies to the industry so that it can modernise by installing new machinery. <br /><br />The government also announced the constitution of a 41-member working group under the Textile Secretary Rita Menon to form a National Fibre Policy, aimed at making India self- sufficient in fibre consumption and export requirements.</p>
<p>“...Rs 2,546 crore (under TUFS) will reach the beneficiaries in 72-hours,” Textile Minister Dayanidhi Maran told reporters here adding “during the slowdown this will help the industry...and bring lot of comfort to the industry”.<br /><br />He said by releasing the amount, the dues to the industry under the scheme till June 30, 2009 stand “cleared”.<br /><br />The fund would be transferred electronically through more than 121 financial institutions and banks to the accounts of 12,514 beneficiaries.<br /><br />Maran also said the ministry would approach Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee for more funds for the textile sector.<br /><br />Under the TUFS the government provides subsidies to the industry so that it can modernise by installing new machinery. <br /><br />The government also announced the constitution of a 41-member working group under the Textile Secretary Rita Menon to form a National Fibre Policy, aimed at making India self- sufficient in fibre consumption and export requirements.</p>