Textiles
60. The Government has recently announced a New Textile Policy aimed
at preparing industry for the new challenges of global competition. I am happy to announce
a textile package comprising the following schemes:
l A
scheme for setting up Integrated Apparel Parks is being initiated. This will enable the
dereserved readymade garment industry to set up modern units with the best infrastructure.
A budget provision of Rs 10 crore has been provided for the year 2001-02.
l A strong and modern weaving sector is very critical for this purpose. At least
50,000 new shuttleless looms and the modernisation of 2.5 lakh plain looms to automatic
looms is expected to take place by 2004 through funding from the Technology Upgradation
Fund Scheme (TUFS). The budget provision under TUFS is being raised from Rs 50 crore this
year to Rs 200 crore in the next year.
l The Cotton Technology Mission is being continued and strengthened. The budget
provision is being increased from Rs 15 crore to Rs 25 crore.
l The budget allocation for Ministry of Textiles is being enhanced substantially
from Rs 457 crore in 2000-01 to Rs 650 crore in 2001-02.
l I shall provide the details of the proposed
fiscal changes in Part B of my speech.
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