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Thursday, May 25, 2006

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Handlooms: Lending rates may be cut

Our Bureau

New Delhi, May 24

The Government is considering reduction in the rate of interest on the credit available to the handloom sector at par with the agricultural sector, the Minister of Textiles, Mr Shankersinh Vaghela, said while chairing the third All India Handloom Board meeting here. He said that the Government has also proposed to take up a census of handlooms and also restore the 10 per cent rebate scheme during the current year. The new schemes are expected to be launched in the sector in the next two months. He also said there was a proposal to develop another 100 clusters at a total cost of Rs 50 lakhs, open 230 yarn depots in the country and introduce a `Technological Upgradation Fund' for the sector.

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