Maran hails budget proposals relating to textiles sector

New Delhi, Feb 26(ANI): Union Textiles Minister Dayanidhi Maran on Friday hailed the General Budget for 2010-11 presented in Parliament, saying that the initiative for the textiles sector could be seen as growth spurring initiatives.

Maran said that the initiatives were dovetail with economic revival, infrastructure development, agriculture development, inclusive growth and restoring export growth.

The Minister further said that he is satisfied that National Security Fund has been created which will take care of 65 lakh handlooms weavers.

He also stressed that the capitalization of Regional Rural banks are likely to help primary cooperative societies lending to Handlooms sector and doubling of corpus of Micro Finance Development Equity Fund from Rs. 200 crore to Rs. 400 crore will help the artisans and weavers.

"These measures recognize the role of handlooms and handicrafts in providing employment as well as an instrument to preserve the magnificent and ancient textiles traditions of our country," Maran added.

The Minister also hailed the initiative of Finance Minister Pranab Mukherjee to provide one time grant of Rs. 200 crore to 20 Common Effluent Treatment Plant (CETP) installed by dyeing units in Tirupur, Tamil Nadu.

"This measure will supplement the efforts of Government of Tamil Nadu which had already provided support of Rs. 120 crore. Tirupur is the leading export centre mainly for hosiery and provide employment to approximately 5 lakh workforces and this measure will ensure protection of employment and smooth production and export of knitwear from the region," Maran said. (ANI)