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With the aim to encourage production of yarn and cotton, Tamil Nadu Chief Minister J. Jayalalithaa today announced a 20 per cent subsidy for it, which would cost the exchequer Rs 12 crore a year.
Of this, five per cent would be given as bonus to manufacturers, an official release said.
The subsidy would be given to spinning mills and cotton yarn producers, it added.
Besides increasing production of cotton yarn in Tamil Nadu, this initiative stands to benefit spinning mill owners and weavers, the release said.
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