Industry friendly software i-ATUFS to put in use for ATUFS

YarnsandFibers News Bureau 2016-03-05 13:00:00 – Tamil Nadu

An industry-friendly software i-ATUFS to be put in use for the Amended Technology Upgradation Fund Scheme, which is welcomed by Southern India Mill’s Association (SIMA).

The association chairman M. Senthil Kumar said that the software will bring in transparency and tracking facility and might be a complete solution for the problems faced by the Ministry, beneficiaries and the lending agencies in the scheme.

The Central Government had notified the ATUFS in January this year and issued a resolution for the scheme on February 29. It has also considered the demand for allocation of UIDs since September 2014 for all the eligible applicants under the RR-TUFS.

The ATUFS will extend 10 percent capital subsidy to all weaving and processing machines subject to a maximum of Rs. 20 crore and a 15 percent capital subsidy to a maximum of Rs. 30 crore to garmenting, technical textiles, and composite units with garmenting or technical textile facilities.

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