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Related Keywords: 300 crore, approved a new development skill scheme, Cabinet Committee on Economic Affairs, chaired by PM Narendra Modi, cover the entire value chain of textiles, create more jobs, decision taken at a meeting, expenditure of Rs 1, hit by demonetisation, labour-intensive textile sector, rollout of the GST, Union Cabinet on Wednesday

The Union Cabinet on Wednesday approved a new development skill scheme at an expenditure of Rs 1,300 crore to help create more jobs in the labour-intensive textile sector that has been hit by demonetisation and the rollout of the goods and services tax (GST). The decision was taken at a meeting of the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi.

Related Keywords: Cabinet Committee on Economic Affairs, huge lossess, land allocated, largest project for the textile sector, Ministry of Textile and Jute, Proposal of Bangladesh Textile Mills Corporation, purchase new machineries, revive 13 textile mills under a public-private partnership initiative, shutdown 25 years ago, under the ministry

The proposal of Bangladesh Textile Mills Corporation (BTMC), which works under the ministry, to revive the 13 textile mills under a public-private partnership (PP) initiative which were shutdown 25 years ago due to huge lossess, would be placed before the Cabinet Committee on Economic Affairs on Wednesday, according to an official of the Ministry of Textiles and Jute.

Related Keywords: approval for ncrease in the Minimum Support Price, Cabinet approved setting up of Government e-Marketplace Special Purpose Vehicle, Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, Jute mainly used as raw material, Packaging Industry, raw jute, this season, to protect the economic interests of the farmers

Jute is mainly used as raw material for Packaging Industry. The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi in order to protect the economic interests of the farmers has given its approval for the increase in the Minimum Support Price (MSP) for raw Jute to a level of Rs35000/- per quintal for 2017-18 season which indicates an increase of Rs. 300/- (9.4%) over the previous year.

Related Keywords: affected by the move, Amended Technology Upgradation Fund Scheme, Cabinet Committee on Economic Affairs, committed liabilities under old scheme, completely rejects claims of textile mills, Finance Ministry, owner of a textile mill, so called black out period, subsidy against investment, Textile Commissioner, under TUFS

The Cabinet Committee on Economic Affairs (CCEA) decision to introduce the Amended Technology Upgradation Fund Scheme (ATUFS) and approved R12,671 crore for its “committed liabilities” under the old scheme completely rejects claims of textile mills that had sought subsidy against investments made under the Technology Upgradation Fund Scheme (TUFS) during the so-called black-out period, a senior official said.

Related Keywords: Amended Technology Upgradation Fund Scheme, attract investment, benefit textile industry, better quality in processing industry, better technology looms, boost Make in India initiatives, Cabinet Committee on Economic Affairs, export, introduction of ATUFS, promotion of technical textiles, replace existing RR TUFS, targets employment generation

The Cabinet Committee on Economic Affairs on Wednesday gave nod to the introduction of “Amended Technology Upgradation Fund Scheme (ATUFS)” which will replace the existing Revised Restructured Technology Upgradation Funds Scheme (RR-TUFS) for technology upgradation of the textile industry.

A budget provision of Rs 17822 cr has been approved of which Rs 12671 cr is for committed liabilities under the ongoing scheme and Rs 5151 cr for new cases under ATUFS.

Related Keywords: approves interest equalisation scheme, boost exports, Cabinet Committee on Economic Affairs, FIEO, Indian Texpreneurs Federation, move up value chain, pre and post shipment rupee export creidt, SIMA, TEA, textile sector regain export market share, welcomed by textile units

Cabinet Committee on Economic Affairs has given approval for interest equalisation scheme (earlier called Interest Subvention Scheme) on pre and post shipment rupee export credit with effect from April 1, 2015 for five years which is welcomed by the textile units.

According to regional chairman of Federation of Indian Export Organisations, A. Sakthivel, who is also the president of Tirupur Exporters Association was of the opinion that the scheme had come at an appropriate time when the apparel exports registered negative growth in August and September on a year-to-year basis.

Related Keywords: Cabinet Committee on Economic Affairs, jute, Ministry of Textiles

Cabinet Committee on Economic Affairs (CCEA) cleared the proposal on hiking minimum support price(MSP) of jute. Government has hiked the minimum support price (MSP) of jute by Rs 100 to Rs 2,400 per quintal for 2014-15 season. The hike in MSP is expected to prompt farmers to increase investment in jute cultivation and boost production.

Jute MSP of TD-5 variety has been increased by Rs 100 per quintal, Finance Minister P Chidambaram told reporters after the CCEA meeting.

Related Keywords: Cabinet Committee on Economic Affairs, environmental issues textile processing, Integrated Processing Development Scheme, textile processing units in Pandesara, textile processing units Palsana, textile processing units Sachin, Textile units in surat

The textile city of Surat will soon get a green field and brownfield projects to address the environmental issues faced by the textile processing units in the city. These projects will be implemented under the Integrated Processing Development Scheme (IPDS) approved by the Cabinet Committee on Economic Affairs (CCEA). The IPDS scheme is designed to address the environmental concerns faced by the textile processing units. About Rs500 crore for the project has been approved in the 12th five year plan.