The government is soon expected to take up the proposal to increase the total fund sanction to Rs 15,000 crore for modernisation of the textiles industry in the XIth Five-Year Plan .

In order to promote modernisation of textiles units in the country, the government subsidises 5 per cent of interest payments on loans sanctioned under the scheme.

The government had earlier earmarked Rs 8,000 crore for this purpose, which was exhausted by June, 2010.

Subsequently, the government had asked banks ...
Continue reading ...