Tuf scheme for textile, jute sector revived for a year

摘要

The Union textile ministry's Technology Upgradation Fund Scheme (Tufs), discontinued in June last year, has been relaunched in a restructured form. The scheme is meant to help modernise the textile and jute sector. The revised scheme has several new features. Sectoral allocations and the loan period are shorter, and interest reimbursement for the spinning sector is lower. The overall subsidy for the year has been capped at Rs 1,972 crore. The revised scheme was notified on April 28 and is to remain open till March 31 next year. It would be on till the funding is exhausted and applications are to be taken up on a first come, first serve basis.