Comments
The Ministry of Textiles has sought enhanced budget allocation of Rs 24,597 crore from the Planning Commission for the 12th Plan period for the development of the sector, and creating 15.8 million jobs by 2016-17, an official said.
“The budgetary support would be used for further development of powerloom and sericulture sectors and upgradation of existing NIFT centres,” he said.
The Ministry plans to continue modernisation and technological upgradation of the sector through restructured Technology Upgradation Fund Scheme (TUFS), he added.
Under TUFS, textiles companies get five per cent subsidy on loans from the Government for upgrading technology. During the 11th Plan, the Ministry was granted funds worth Rs 14,000 crore, the official said.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.