Govt's loan waiver to benefit 3 lakh weavers

Top Stories

»	Sensex, Nifty open 1 pc lower amid West Asia tensions, weak global cues
»	India clocks robust 7.7 pc GDP growth in 2025-26, Q4 growth at 7.8 pc
»	RBI keeps repo rate unchanged at 5.25 pc, maintains ‘Neutral’ stance
»	Crude oil prices fall over 1 pc as ceasefire hopes ease West Asia concerns
»	Forced labour import curbs: US proposes up to 12.5 pc tariff on 60 countries, including India

SME Times News Bureau | 14 Dec, 2011
Nearly three lakh handloom weavers and 15,000 weavers' cooperatives across India are likely to benefit under a new scheme - including a loan waiver - to restructure the handloom sector, the government said on Wednesday.

Replying to a question in the Rajya Sabha, Minister of State for Textiles Panabaka Lakshmi said loans worth nearly Rs.3,521 crore have been waived by the government for weavers under a scheme of "revival, reform and restructuring package for handloom sector".

All viable and potentially viable primary weavers cooperative societies and state level apex societies would benefit under the scheme, she added.

"In addition, the individual handloom weavers, weaver entrepreneurs, self-help groups and joint liability groups, who have taken loans for handloom weaving purposes would also be covered under the scheme," Lakshmi told the Rajya Sabha.

The minister added that in such cases, there would be an overall ceiling of Rs.50,000 to write off for individual beneficiaries.

She also said that the amount was tentative and the scheme is "demand driven".