Indian textile ministry decides to put all info related to TUF online

YarnsandFibers News Bureau, 2014-06-27 14:00:00 - New Delhi

News Tags: 23 lakh powerloom, bankers, beneficiaries, Indian textile ministry, Kiran Sony Gupta, office of textile commissioner, online, Textile Commissioner, TUF scheme

New Delhi
Indian textile ministry decides to put all info related to TUF online

The Indian Textile Ministry has decided to put all information related to Textile Upgradation Fund (TUF) Scheme online. This will assist the beneficiaries to overcome any possible procedural hassles and also delay and confusion over the communication. The decision on TUF procedure to be made online as it was observed that of the 23 lakh powerlooms, only about 1.25 lakh looms have taken advantage of the TUF and other schemes. The beneficiaries will be now able to check all information from application to sanction of fund and subsidy and related matters with regard to TUF online and once the software was ready it would be launched, said Kiran Sony Gupta, Textile Commissioner, Mumbai. The online facility will be based on four parts - beneficiaries, bankers, the office of textile commissioner and the Ministry, so that there would not be any wide gap in the process from application to sanction. Gupta responding to the problems raised by mills on specific issues, including non-receipt of subsidy and the "blackout" period of the scheme clarified that of the total sanction of Rs.19,500 crore, there was a committed liability of over Rs 9,500 crore. Since the industry required at least Rs 2,500 crore as fund each year, the department has sought additional allocation to meet the demand, so that more mills could be modernised, to give a competitive edge to the Indian textile industry. On the new Textile Policy, Gupta said that the draft policy was almost ready but the ministry is awaiting for more suggestions and proposals to flow in from various stakeholder before finalizing the textile policy.

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News Tags: 23 lakh powerloom, bankers, beneficiaries, Indian textile ministry, Kiran Sony Gupta, office of textile commissioner, online, Textile Commissioner, TUF scheme

New Delhi
Indian textile ministry decides to put all info related to TUF online

The Indian Textile Ministry has decided to put all information related to Textile Upgradation Fund (TUF) Scheme online. This will assist the beneficiaries to overcome any possible procedural hassles and also delay and confusion over the communication. The decision on TUF procedure to be made online as it was observed that of the 23 lakh powerlooms, only about 1.25 lakh looms have taken advantage of the TUF and other schemes. The beneficiaries will be now able to check all information from application to sanction of fund and subsidy and related matters with regard to TUF online and once the software was ready it would be launched, said Kiran Sony Gupta, Textile Commissioner, Mumbai. The online facility will be based on four parts - beneficiaries, bankers, the office of textile commissioner and the Ministry, so that there would not be any wide gap in the process from application to sanction. Gupta responding to the problems raised by mills on specific issues, including non-receipt of subsidy and the "blackout" period of the scheme clarified that of the total sanction of Rs.19,500 crore, there was a committed liability of over Rs 9,500 crore. Since the industry required at least Rs 2,500 crore as fund each year, the department has sought additional allocation to meet the demand, so that more mills could be modernised, to give a competitive edge to the Indian textile industry. On the new Textile Policy, Gupta said that the draft policy was almost ready but the ministry is awaiting for more suggestions and proposals to flow in from various stakeholder before finalizing the textile policy.

0

News Tags: 23 lakh powerloom, bankers, beneficiaries, Indian textile ministry, Kiran Sony Gupta, office of textile commissioner, online, Textile Commissioner, TUF scheme

 
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