TUF allocation up Rs 535 crores, Jute Tech Mission to be launched
28 Feb '06
1 min read
Having recognized and identified the growth potential of the textile industry, especially cotton textiles, the Government proposes to enhance the allocation for Technology Upgradation Fund Scheme (TUFS) from Rs. 435 crore to Rs. 535 crore.
This was announced by Union Finance Minister, Shri P. Chidambaram in his Union Budget 2006-07 speech in the Lok Sabha today.
TUFS has considerably helped small powerlooms and big textile industries to modernize and equip themselves to face global challenges and make Indian textiles more competitive in the international market.
Shri P. Chidambaram said that the Government intends to provide Rs. 189 crore for the scheme of Integrated Testiles Parks (SITP).
Under the scheme, seven parks have been sanctioned and ten parks have been identified for development.
The Finance Minister informed the Lok Sabha that the Jute Technology Mission would be launched in 2006-07 to harness the potential of the golden fibre.
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