Govt to waive off loans to boost handloom industry | india | Hindustan Times
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Govt to waive off loans to boost handloom industry

To reduce financial burden on weavers, the govt is considering to waive off loans to the tune of Rs 650 crores.

india Updated: Dec 05, 2006 16:27 IST

To reduce financial burden on weavers and boost the handloom industry, the government is considering to waive off loans to the tune of Rs 650 crores.

Textile minister Shankersinh Vagela told Lok Sabha that efforts were on to waive the loans, when asked about the steps government was taking to ameliorate the plight of weavers. 

However, he denied that number of suicide cases among weavers were significant. "The suicides can be because of other reasons than financial indebtness," he said, in a reply to a question related to weaver suicides in Uttar Pradesh.

Listing out various steps to give a fillip to the handloom industry, Vaghela said 273 yarn development centres have been opened, marketing facilities were being enhanced and various subsidies were being provided. He also said there was no shortage of cotton yarn in the country.