TUFS extended for entire 11th Plan period
New Delhi: The government on Thursday announced the continuation of the technology upgradation fund scheme (TUFS) for the entire period of the 11th Five-Year Plan (2007-12). The scheme places special thrust on garmenting, technical textile and processing segments of the textiles industry in view of their potential for value addition and employment generation, an official release said. The decision is expected to help the textile sector in achieving the targeted growth rate of 16% and make an investment of Rs. 1,50,600 crore in the Plan period, it said. Under TUFS, the government would provide 4% interest reimbursement for spinning machinery and 5% interest reimbursement for all the remaining sectors. It would also provide 10% capital subsidy in addition to 5% interest reimbursement for machineries required in manufacture of technical textiles and garments, apart from other benefits.
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