Tough journey for TUFs

With the exhaustion of subsidy available under the Revised and Restructured Technology Upgradation Fund Scheme (RR-TUFS), the TUFS was modified for the third time in December 2015 to Amended TUFS (A-TUFS).

A budgetary provision of Rs 17,800 crore will be made for A-TUFS for seven years till 2022, out of which Rs 12,700 crore will be towards committed liabilities under ongoing schemes and Rs 5,200 crore towards new projects (including those pending approval under RR-TUFS).

The government expects A-TUFS to attract investment of around Rs 1 lakh crore and create about three million jobs. However, the government had not received any application under A-TUFS till July-end