Govt mulls loan waiver for weavers -Governance Now

Govt mulls loan waiver for weavers

A financial package is ready for approval

GN Bureau | March 11, 2010

Handloom artisans have found hope - and a reprieve from their hand-to-mouth existence with the government mulling an waiver of all overdue interests and loans of all handloom weavers cooperatives.

"The government is examining a financial package that includes, inter-alia, a proposal to waive overdue interests and loans to weavers' co-ops," minister of State for textiles Panabaaka Lakshmi said in her reply to a question at the Lok Sabha on Thursday.

The minister also added that the central government was implementing five schemes under the eleventh five-year plan for the welfare of handloom weavers, namely,Integrated handloom Development Scheme, Marketing and Export Promotion Scheme, Handloom Weavers Comprehensive Wlfare Scheme, Mill Gate Price Scheme and the Diversified Handloom Development Scheme.

The financial package has been prepared by a high-level commmittee headed by the managing director of National bank for Agriculture and Rural Development (NABARD).

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