The Hindu Business Line : Centre mulling loan waiver for weavers: Vaghela

Hyderabad, July 8 The Union Government is considering a proposal to waive loans worth Rs 800-1,000 crore of handloom weavers, Mr Shankersinh Vaghela, Minister of Textiles, said. It is also considering a proposal to offer loans to the weavers at 7 per cent interest rate.

Addressing a press conference here on Tuesday, he said the Government had appointed a high-level committee under the chairmanship of the Managing Director of Nabard to take a view on the waiver proposal.

“I requested Mr Chidambaram, Finance Minister, in Parliament to include handloom weavers in the waiver scheme. He had assured me that he would consider this. I hope that a positive decision would come out in a month,” he said.

Silk drilling unit

Mr Vaghela was here in connection with the inauguration of a high-end silk drilling unit at Janagaon in Warangal district. The first-of-its-kind Rs 3-crore unit machine would produce international grade silk. The Textile Ministry would facilitate establishment of another unit in Tamil Nadu shortly.

Reiterating the Ministry’s commitment to withdraw import duty on cotton, he also felt that there should be no duties on exports too.

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