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Kolkata, Feb.29 The tea industry, in general, has welcomed the Union Budget for 2008-09, pointing out that the allocation of Rs 20 crore to Tea Research Association at Tocklai in Jorhat will boost research in tea, thus indirectly benefiting the industry.

The industry also hailed the allocation of Rs 40 crore of subsidy under the Special Purpose Tea Fund (SPTF). “The subsidy amount, together with loan component and the promoter’s contribution will push up the outlay four times as much”, the spokesman of a major tea producing company said.

A spokesman of Tea Board said by March this year, the disbursement of subsidy under SPTF would be about Rs 30 crore entailing a total outlay of Rs 120 crore. “We’ve already prepared documents for disbursement of Rs 15 crore of subsidy”, he added.

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