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Sharma announces relief package for handloom weavers
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SME Times News Bureau | 21 Nov, 2011
Commerce and Industry and Textiles Minister Anand Sharma has announced measures such as issuance of weaver credit card, interest
subsidy, credit guarantee and freight reimbursement for handloom weavers
as part of the handloom package.
"A meeting of Expenditure
Finance Committee (EFC) was held Friday and a decision of covering
individual weavers also, a large number of whom are from UP (Uttar
Pradesh), will be sent for consideration of the cabinet," said a
statement from the commerce and industry ministry on Saturday.
"While the
loan waiver package cover the needs of loan defaulters, but the large
number of individual weavers who are facing stress economic conditions
also need support. A six-fold strategy has been prepared as part of the
handloom package," it added.
The weavers credit card will be
issued to individual weavers who will be able to access loans upto Rs.2
lakh and generally in the range of Rs.35,000 to Rs.50,000 for a period
of 3 years without any collateral security.
The scheme has been finalised and the banks would be advised for its implementation.
Owing
to the unduly high cost of credit, the government has recommended
interest subsidy of 3 percent to enable weavers to access loan at 7-8
percent interest for 3 years.
Assistance of Rs.4,200-Rs.5,400 per
weaver has also been proposed which will provide them leverage for
borrowing loans. This will be besides a credit guarantee under which
loans extended by banks will be guaranteed by the credit guarantee fund
trust for medium and small enterprises to the extent of 85 percent of
their outstandings.
Price subsidy is proposed for yarn supplied
by the National Handloom Development Corporation and agencies proposed
by the state governments in order to overcome the problem of yarn
supply.
In the budget for the current financial year, the
government had announced a loan waiver package of Rs.3,000 crore, which
was expected to benefit 15,000 handloom weaver cooperative societies and
3 lakh handloom weavers, who had been unable to repay their loan on
account of economic difficulties.
However, a large number of
weavers of Uttar Pradesh, who operate on an individual basis and are not
organised in the cooperative sector, were left out of its ambit.
In
recent times, this sector has come under stress on account of high yarn
prices and stiff competition from power loom and mill sector. Apart
from this, even access to credit is not easily forthcoming.
The
bulk of handloom industry weavers are from Uttar Pradesh, West Bengal,
Orissa, the northeastern states and the southern belt, and a large
number of them belong to the minority community or are women.
"A
focused attention to this sector i, an imperative from the stand point
of our 'inclusive growth agenda," the statement added.
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But must get everyone
Shakeel Ansari | Wed Nov 23 18:18:09 2011
Good package support for handloom weavers, but one thing is to noted that it should be distributed to each and every handloom weaver from UP, so that that crisis which is facing by the weaver from a very high rate of material should be compensated and this sector become more powerful in terms of productivity, quality, and in cheap rates. Package is not to be given to some powerful peoples by our persons who r sitting on the chair and showed in papers to the government that it is distributed..................
Rs. 3000/- crores
mohd saleem | Wed Nov 23 12:46:29 2011
If the govt. fulfills its word by sanctioning Rs. 3000 crores to 15000 handloom weaver cooperative societies and 2 lakh handloom weavers then there will be no poverty line, each individual will be gifted with such a good amount that they can come out of there hand loans and other loans, and survive for there livelihood and further be happy man and do his business with lots of interest so that govt will defiantly help them. Then this govt. will be a successful govt.
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