Government’s loan waiver to benefit 300,000 weavers

December 14th, 2011 - 4:23 pm ICT by IANS  

New Delhi, Dec 14 (IANS) Nearly 300,000 handloom weavers and 15,000 weavers’ cooperatives across India are likely to benefit under a new scheme - including a loan waiver - to restructure the handloom sector, the government said Wednesday.

Replying to a question in the Rajya Sabha, Minister of State for Textiles Panabaka Lakshmi said loans worth nearly Rs.3,521 crore have been waived by the government for weavers under a scheme of “revival, reform and restructuring package for handloom sector”.

All viable and potentially viable primary weavers cooperative societies and state level apex societies would benefit under the scheme, she added.

“In addition, the individual handloom weavers, weaver entrepreneurs, self-help groups and joint liability groups, who have taken loans for handloom weaving purposes would also be covered under the scheme,” Lakshmi told the Rajya Sabha.

The minister added that in such cases, there would be an overall ceiling of Rs.50,000 to write off for individual beneficiaries.

She also said that the amount was tentative and the scheme is “demand driven”.

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