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Related Keywords: Handloom weavers, nationalized banks, powerloom industry, state industries and commerce, waiver scheme

According to the recent statement of state industries and commerce minister of Telangana, KT Rama Rao, the Telangana government will spend Rs 10.10 crore in the scheme to free around 2,500 handloom weavers from debt.

The scheme helps to waive farmers’ loans up to Rs 1 lakh and loans taken by handloom weavers from nationalised banks and district cooperative central banks as working capital for production of handloom products from January 2014 to March 2017.

Related Keywords: approved Amended Technology Upgradation Fund Scheme, DPR, eligible bench marked machinery, measures taken to provide relief to textile, one time capital subsidy, period of seven years, powerloom industry, powerloom units, promote digital payment, technology upgradation, Union Textiles Minister

The Union Textiles Minister informing about the measures taken by the government to provide relief to textile and powerloom industry said that the government has approved the "Amended Technology Upgradation Fund Scheme (A-TUFS)" for technology up-gradation of the textile industry with one time capital subsidy for eligible bench-marked machinery for a period of seven years from 2015-16 to 2021-22, in place of Revised Restructured Technology Upgradation Fund Scheme (RRTUFS).

Related Keywords: demonetization of high value currency, lending small loans, micro-finance companies, no takers grey fabric, powerloom industry, powerloom weavers, reeling under crisis, Sircilla textile town

The micro-finance companies (MFIs) taking advantage of demonetization of high value currency are slowly re-entering the Sircilla textile town and lending small loans to powerloom weavers. Demonetization has cast its shadow on the powerloom industry which is already reeling under crisis due to no-takers for their grey fabric (produce) in Sircilla textile town.