Centre declares Rs 77-Cr aids for flood affected Surat's textile

Ahmedabad, Dec 25 (UNI) Union Textile Ministry here today announced exclusive aids package of Rs 77-crore for the recently flood affected Textile Units of Surat city.

Union Textile Minister Shankarsinh Vaghela told reporters here that the Rs 77-crore package has been divided into two major portions. Of the total package, Rs 56-crore would be disbursed as a subsidy among the affected textile units.

The remaining Rs 21-crore would be in the form of soft loan at an interest rate of 5 per cent, Mr Vaghela said.

This exclusive package will revive the employments of over 150,000 people who were directly affected by the damages caused to the 87,000 power-looms by the flood.

The revival of these power-looms will re-generate the employments for another 100,000 people, who were indirectly dependent on these textile units.

Giving details of the package, the Union Textile Minister said, the affected units will be given a working capital loan of Rs 37,500 per loom for three months by the banks at preferential interest rates of five per cent for one year.

Besides this, moratorium period for Technology Upgradation Fund Scheme (TUFS) loan for flood affected unit will be increased by an additional two years so that the industry may get time to come back to normal track, he said.

When asked, Mr Vaghela admitted that the textile industry of Surat had made production loss worth Rs 700-crore due to flood damages.

The assistance package will benefit textile units located in Ved Road, Pandol, Anjana Farm, Kataram GIDC, Salabatpur, Kim-Pipodara and others of the city, Mr Vaghela added.

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