Staff Reporter | 11 Jul, 2008
The Textile ministry has asked the planning commission for Rs.1, 900 crore under the scheme of Technology Upgradation Fund Scheme (TUFS), in addition to Rs. 1,100 crore released under the scheme in first quarter of the current fiscal, Joint Secretary of Ministry of Textiles, J.N. Singh said recently.

The scheme is on till fiscal year 2012 and there is no limitation on allocation of funds. Singh also said that the government released the entire money till September 2007.

The scheme has been extended up to the eleventh five-year plan upon constant demand from the industry.

TUFS assists various divisions of textile industry to modernize through installation of new and state-of-the-art machines.

Introduced in April 1999, the scheme has helped to overcome technological obsolescence and create economies of scale. It also helped in transition from quantitatively restricted textiles trade to market-driven global merchandise.