 "MSME ministry likely to streamline existing schemes for better results")
In a major relief to textile units in Maharashtra, the state government has started disbursing power subsidy of up to
Rs 3.77 per unit to powerlooms, spinning mills, and garment units in the state.
Textile units, mostly small and medium, are struggling to raise working capital owing to weak balance sheets. Many of them had shut down part of their operating capacity due to weak demand from domestic markets and sharp fall in exports. Energy accounts for nearly half the production cost in the textile value chain. While spinning mills across India are struggling to pass on the elevated cotton prices
