From UPSC perspective, the following things are important :
Prelims level : ATUFS
Mains level : Textile sector of India
Union Minister of Textiles has reviewed the Amended Technology Up-gradation Fund Scheme (ATUFS) to ease of doing business, bolstering exports & fuelling employment.
What is ATUFS?
- The Ministry of Textiles had introduced Technology Upgradation Fund Scheme (TUFS) in 1999.
- It is a credit linked subsidy scheme intended for modernization and technology up-gradation of the Indian textile industry.
- It aims at promoting ease of doing business, generating employment and promoting exports. Since then, the scheme has been implemented in different versions.
- The ongoing ATUFS has been approved in 2016 and implemented through web based iTUFS platform.
- Capital Investment Subsidy is provided to benchmarked machinery installed by the industry after physical verification.