Centre constitute a committee to study cost of working capital

New Delhi, Mar 11 (ANI): The Union Government on Thursday said that it has constituted a high level committee to look into the problems of high cost of working capital.

Replying questions in the Lok Sabha, Union Minister of State for Textiles, Panabaaka Lakshmi said: "A high level committee headed by Managing Director, National Bank for Agriculture and Rural Development (NABARD) was formed by this Ministry to look into the problems of high cost of working capital and choking of credit lines in the handloom sector."

The committee prepared a Financial Package in this regard whose proposals inter-alia includes Waiver of overdue interest and overdue loans of Handloom Weavers' Cooperative Societies. The proposal is under examination.

Panabaaka Lakshmi further stated that Government of India is implementing five schemes during the 11th Five Year Plan for the development and welfare of handloom weavers such as --integrated handloom development scheme, marketing and export promotion scheme, handloom weavers comprehensive welfare scheme, mill gate price scheme and diversified handloom development scheme.(ANI)