Textile Sector – Cotton, Jute, Wool, Silk, Handloom, etc.

[pib] Amended Technology Up-gradation Fund Scheme

Note4Students

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.

 

UPSC 2022 countdown has begun! Get your personal guidance plan now! (Click here)

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments