First Green Consulting Pvt Ltd News Letter Power looms running on solar energy likely to get subsidy from Centre

Power looms running on solar energy likely to get subsidy from Centre

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The Centre is considering granting subsidy to power looms operating on solar energy as part of its clean energy initiatives.“From August 15, power looms in the country will utilise solar energy for running their operations. We are planning to provide 50 per cent subsidy (to them),” Textile Minister Santosh Gangwar said. The total subsidy to be given is Rs.3.75 lakh to persons belonging to the General Category, Rs.5.62 lakh for OBC category and Rs.6.75 lakh to SC/ST.Speaking to the media on the achievements of his ministry during the past two years, Gangwar said: “More than Rs.6,500 crore has been spent by the ministry on various schemes, for promotion and development of the textiles sector. Approximately five lakh additional jobs have been created in the past two years in the textiles sector.”“It is important that handloom weavers get due respect as well as compensation for their work. Our aim is to increase the earning of handloom weavers to Rs 500 per day. A range of initiatives has been taken, keeping this goal in mind.”

Affordable rates

The minister said his ministry was in talks with the finance ministry on measures to ensure that the textiles sector gets access to credit at affordable rates. He added that a national textiles policy will be announced soon, adding that a Cabinet note has been floated in this regard. Efforts are also on to increase the competitiveness of the Indian textiles and apparel sector in global markets, he said, adding that India has to take advantage of the rising wage costs in China, which is the predominant player in the sector now.On exports of textiles and apparel products, the ministry has set a target of $48.5 billion in FY’17 from $45 billion that was achieved in FY’16. The textile and apparel exports managed a resilient performance in FY16, mainly on account of high growth registered in carpets, handicrafts, jute and even readymade garments.Gangwar said the Amended Technology Upgradation Fund Scheme was rolled out in January 2016 with a budget provision of Rs.17,822 crore for the next seven years, adding that it is expected to attract an investment of Rs. 1 lakh crore and generate jobs for 30 lakh persons.Also, Integrated Processing Development Scheme was rolled out to provide up to 50 per cent assistance for Common Effluent Treatment Plants with Zero Liquid Discharge system, subject to a ceiling of Rs.75 crore, he said.

Source:  Times of India

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