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Amended Technology Upgradation Fund Scheme being implemented

By TIOL News Service

NEW DELHI, MAR 16, 2017: THE Ministry of Textiles has implemented ‘Amended Technology Upgradation Fund Scheme (ATUFS)' with effect from January 13, 2016, for a period of seven years. A one-time capital subsidy for eligible benchmarked machinery at the rate of 15% for garmenting and technical textiles segments with a cap of Rs. 30 crore and at the rate of 10% for weaving, processing, jute, silk and handloom segments with a cap of Rs. 20 crore is provided under the scheme.

Total outlay of Rs. 17,822 crore has been approved for seven years to meet the committed liabilities of Rs. 12,671 crore and Rs. 5151 crore for new cases under ATUFS.  While ATUFS covers Capital Investment Subsidy (CIS), earlier schemes of TUFS had provisions both for interest reimbursement as well as Capital Subsidy. ATUFS is targeted towards focused segments like garmenting and made-ups with additional 10% subsidy. The segments which have achieved desired level of modernization, i.e. spinning etc., have been excluded under ATUFS.

Under this scheme so far 2036 UIDs have been issued with expected employment generation of 45,659 against investments reported of Rs. 5225.86 crore.

TUFS is a Central Sector Scheme being implemented on pan India basis. However, under the Scheme subsidy is given to the units/entities through nodal financial institutions and not through the state govt. The details of the fund provided under TUFS during the last three years and current year are given below:

(Rs. in crore)

 

2013-14

2014-15

2015-16

2016-17

Funds under TUFS

BE

RE

BE

RE

BE

RE

BE

RE

2400.00

1956.16

2300.00

1946.02

1520.79

1434.78

1480.00

2621.98

A web based claim monitoring and tracking mechanism, “i-TUFS” has been developed for providing complete visibility to all stakeholders for smooth and transparent implementation of the scheme.

The above information was given by the Minister of State for Textiles, Mr Ajay Tamta today, in a written reply to a Lok Sabha question.


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