The Maharashtra government is working on schemes to provide subsidies to power looms in the stat, said chief minister Devendra Fadnavis in Bhiwandi on Saturday.
He added that the state is also planning to add on to the 50% subsidy on solar energy and a subsidy on the interest on loans provided to the looms.
He added that owing to the ongoing Assembly session, he cannot give a formal announcement of the schemes though they will soon be underway.
Fadnavis along with the Union textile minister Smriti Irani was inaugurating the PowerTex India Schemes in 43 cities at one time via video conferencing in Bhiwandi.
The scheme comprises new research and development in power loom textiles, new markets, branding, subsidies and welfare schemes for the workers.
Fadnavis said, “Bhiwandi is the ‘power loom capital’ of India. Chief minister Narendra Modi has strived to upgrade every component of this sector. The central government has given 50% subsidy to power looms, and we will see if the state can give the remaining 50%.”
Fadnavis said, “The government has given Rs1,000 crore as funds to this sector in the past, which has now reached to Rs1,500 crores. The scheme to provide additional subsidy is ready and it will be announced soon.”