Financial Package of Rs. 3000 crore for Handloom Sector

The Government of India has formulated a Financial Package of Rs.3000 crore for waiver of the overdues of loans of the handloom cooperatives of the country and also, to provide loans at concessional rates of 7% per annum. The package has been sent to the Ministry of Finance. This was stated by the Minister of State for Textiles, Smt. Panabaaka Lakshmi in the Lok Sabha, in a written reply to a question by Dr. M. Thambidurai. Furthermore, the Government of India is implementing the scheme for development and welfare of the handloom weavers like Integrated Handlooms Development Scheme, Marketing and Export Promotion Scheme, Handloom Weavers Comprehensive Welfare Scheme, Mill Gate Price Scheme, Diversified Handloom Development Scheme.