The state cabinet had in February 2018 approved the textile policy for 2018-2023 to attract investment of ₹36,000 crore and generate 10 lakh jobs. Reducing power tariff and raising capital subsidy for spinning mills are two key aspects of the present policy.
Higher concessions for setting up units in Vidarbha, Marathwada and north Maharashtra region in the existing policy was aimed at reducing regional imbalance in the state and cotton producing regions, which had then reported a large number of farmer suicides.
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