Rs2,600 cr debt waiver package being considered: minister

Rs2,600 cr debt waiver package being considered: minister
PTI
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First Published: Wed, Feb 04 2009. 09 18 PM IST
Updated: Wed, Feb 04 2009. 09 18 PM IST
Chennai: The Centre is “seriously considering” a Rs2,600 crore debt waiver package to weavers across the country to boost the textile sector, Union Minister of Textiles Shankersinh Vaghela said here today.
Apart from the package, the Centre would facilitate loans to the community at the rate of 7% per annum, he said, while presiding over a function organised by the Handloom Export Promotional Council (HEPC) here.
“The Centre has always focused on the textile sector with the aim of doubling India’s share in the global textile trade by 2010 and to increase textile exports to $50 billion.
“The focus is on facilitating technological upgradation, increasing raw material base with emphasis on productivity and quality, encouraging human resource development, product diversification, innovative marketing and ensuring adequate financing,” the minister said.
Union Minister of state for Textiles E V K S Elangovan, said it is imperative that systematic and adequate steps are taken to ensure that those employed in the handloom industry continue to derive sufficient income from it.
The Centre’s endeavour is to empower the weaver, in terms of finance, technology, information, marketing support “so that the members get self sustainable employment”, he said.
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First Published: Wed, Feb 04 2009. 09 18 PM IST