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An estimated 1,402 weavers' societies in Andhra Pradesh will get benefits to the tune of Rs 428 crore through the Government scheme, revival, reform and restructuring package for handloom sector, which is being implemented from the current fiscal.
The centrally-sponsored scheme, first mooted by the Finance Minister in his 2011-12 Budget speech, has a total outlay of Rs 3,884 crore.
Centre's share
Of this, the Centre's share will be Rs 3,137 crore and that of the State Governments Rs 747 crore.
The new scheme, being implemented through Nabard, is likely to benefit 15,000 cooperative societies and three lakh weavers across the country.
Repayment
Funds will be provided for repayment of 100 per cent principal and 25 per cent interest as on date of loan becoming NPA, which is overdue as on March 31, 2010.
The Government has further approved an interest subvention of three per cent for three years to be extended from the date of disbursal of the fresh loan extended by banks to the eligible handloom cooperative societies.
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