Cabinet okays continuing TUFS for textiles

Top Stories

»	India and EU discuss trade facilitation, market access under FTA
»	Centre extends customs duty exemption on cotton imports till December 31
»	Indian stock markets recover as FIIs turn buyers after 10 weeks
»	Gold, silver decline up to 2 pc on hawkish Fed signals ahead of festive buying
»	Sensex climbs over 900 points, Nifty tops 22,900 on FMCG, PSU bank rally

SME Times News Bureau | 30 Aug, 2013
The Cabinet Committee on Economic Affairs Thursday approved continuing the Technology Upgradation Fund Scheme (TUFS) during the 12th Plan period with a major focus on powerlooms, an official release said.

The total budget outlay for continuing the scheme will be about Rs.11,900 crore, of which Rs.2,400 crore have been allocated for the financial year 2013-14, the textiles ministry release said.

The Technology Upgradation Fund Scheme (TUFS), launched in 1999, has helped the industry to garner investments of Rs.2.43 thousand crore, the ministry said.

It provides, among other things, for increased capital subsidy -- from 25 percent to 30 percent -- for the handloom and silk sectors.