The government today said it received subsidy claims amounting to Rs 554.62 crore under a scheme for technology upgrade of the textiles industry.
"As on date, claims amounting to Rs 554.62 crore have been received," minister of state for textiles Panabaaka Lakshmi informed the Lok Sabha in a written reply.
The textiles industry gets subsidy under the Technology Upgradation Fund Scheme (TUFS) for modernisation and installation of advanced machinery.
The minister further said due to the "overwhelming response of the scheme, there is a gap between subsidy requirement and budget outlay". The budget outlay for TUFS for the next fiscal is Rs 2,400 crore.
Replying to another question, Lakshmi said a committee, which was set up to look into the problems of high cost of working capital and choking of credit lines in the handloom sector, has prepared a financial package and the proposal is under 'examination'.
The committee has proposed waiver of overdue interest and loans of Handloom Weavers' Cooperative Societies.
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