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Mar 06, 2013
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TUFS attracts Rs.1,11,000-cr investment in three years
The government has catalysed investements worth R1,11,000 crore in the textile sector in the three years through 2011-12 by offering a subsidy of R9,000 crore under the Technology Upgradation Fund Scheme (TUFS), a senior government official said on Tuesday. The government expects to attract investments worth R1,51,000 crore through the scheme in the current Plan period, the official said. The Budget 2013-14 announced the continuation of the TUFS during the 12th Plan period through 2017 with a subsidy allocation of R11,952 crore. The government mainly provides interest subsidy against loans to units, capital subsidy and limited cushion against exchange rate fluctuation for investing in new technology.
Source -
http://www.financialexpress.com
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