Business Daily from THE HINDU group of publications
Wednesday, Dec 05, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Dec 05, 2007 ePaper | Mobile/PDA Version |
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Industry & Economy
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Handloom States - Andhra Pradesh Sops to AP handloom sector Our Bureau Hyderabad, Dec. 4 Giving a boost to the ailing handloom sector in the State, the Andhra Pradesh Government has announced a slew of sops, which include extending ‘pavala vaddi’ (3 per cent interest rate) scheme. Addressing a press conference here on Tuesday, the Chief Minister, Dr Y.S. Rajasekhara Reddy, said that the decision would help the Primary Handloom Weavers Co-operative Societies to reduce the interest burden from the present 11 per cent to three per cent. The new rate of interest is applicable to the existing loans also. The State will increase the number of handloom clusters to 27 from the present two. The cluster scheme will cover modernisation of handlooms, construction of common work sheds and training to improve skills. The units at Textile Park in Sircilla, Karimnagar district, will continue to get 50 per cent power subsidy for two more years. The weavers will get 10 per cent subsidy on all purchases of yarn and dyes and chemicals. The Government will give Rs 7.5 crore to the National Handloom Development Corporation in this regard. More Stories on : Handloom | Andhra Pradesh
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