Comprehensive powerloom scheme launched
Q. Which of the following is/are the new scheme(s) launched for the powerloom sector?- Published on 03 Apr 17
a. Pradhan Mantri Credit Scheme for powerloom weavers
b. Solar energy scheme for powerlooms
c. Both the above
d. None of the above
ANSWER: Both the above
A three-year Comprehensive Scheme for Powerloom Sector Development was launched by Union Textile Minister Smriti Zubin Irani at Bhiwandi on April 1, 2017 and simultaneously at 47 powerloom centres in the country.
It aims to boost common infrastructure and modernisation of the powerloom sector.
The scheme, with an outlay of INR 487 crore for three years from 2017-2018, has nine major components, including two new ones.
The two new schemes are: Pradhan Mantri Credit Scheme for powerloom weavers and solar energy scheme for powerlooms.
Existing powerloom units, new ones, and group enterprises in weaving will now get 20 % of project cost with a ceiling of INR 1 lakh as margin money subsidy and 6% interest subvention, both for working capital and term loan up to INR 10 lakh for a maximum period of five years.
Powerloom units with maximum eight looms each will be eligible for 50 % subsidy for going in for solar energy for captive use, be it on grid or off grid system.
Funds made available for upgradation of plain powerlooms, establishing yarn banks, and group workshed scheme have been increased and the minimum number of looms needed for group workshed scheme has been brought down to 24 from 48.
Some of these existing schemes such as yarn bank and insitu upgradation of plain powerlooms have huge response already and these have been modified to benefit more weavers.
A helpline was introduced for weavers to get details of the scheme.