Date:27/01/2005 URL: http://www.thehindubusinessline.com/2005/01/27/stories/2005012702020300.htm

Back Centre hikes capital ceiling for powerloom sector under TUFS

Our Bureau

Coimbatore , Jan. 26

THE Centre has approved modifications enhancing the capital ceiling allowed under the Technology Upgradation Fund Scheme (TUFS) to facilitate higher investment in the decentralised powerloom sector.

The capital ceiling for machinery allowed under the TUFS for the powerloom sector has been now enhanced from Rs 60 lakh to Rs 1 crore under the credit-linked capital subsidy (CLCS) scheme, which offers 20 per cent subsidy.

According to a communication from the office of the Textile Commissioner, as for the CLCS scheme for the small-scale textile and jute industries for the TUFS projects, the rate of the subsidy has also been increased from 12 per cent to 15 per cent. But all other conditions remain unchanged. The TUFS modifications are effective from January 13.