Government launches PowerTex India scheme for powerlooms

The Union Ministry of Textiles has launched PowerTex India, a three-year comprehensive scheme for Powerloom Sector Development.

The PowerTex India scheme aims to boost common infrastructure and modernisation of the powerloom sector in the country.

Key Facts
  • PowerTex India scheme comprises new research and development in power loom textiles, new markets, branding, subsidies and welfare schemes for the workers.
  • It has overall nine major components, including two new schemes. It has outlay of Rs. 487 crores for three years from 2017-18.
  • The two new schemes are Pradhan Mantri Credit Scheme (PMCS) for powerloom weavers and solar energy scheme (SEC) for powerlooms.
  • PMCS for powerlooms: Under it, financial assistance, including margin money subsidy and interest reimbursement, will be given as against the credit facility under Pradhan Mantri Mudra Yojana to the decentralised power loom units.
  • SEC for powerlooms: Under it, financial subsidy for the installation of the Solar Photo Voltaic Plants will be provided to alleviate the problems of power cuts.
  • Government will provide subsidy of 50% to power loom units having maximum eight looms for adopting solar energy for captive use either in grid or off grid system.
  • Other components of the scheme: In-situ Upgradation of Plain Powerlooms; Group Workshed Scheme (GWS); Yarn Bank Scheme; Common Facility Centre (CFC); Facilitation, IT, Awareness, Market Development and Publicity for Powerloom Schemes, Tex Venture Capital Fund and Grant-in-Aid and Modernisation & Upgradation of Powerloom Service Centres (PSCs).

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Categories: India Current Affairs 2017

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