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Govt Schemes and Incentives
 
Textile Industry - Technology Upgradation Fund Scheme (TUFS)

Ministry of Textiles introduced the Technology upgradation fund scheme (TUFS) for textiles and jute industry in April 1999 to facilitate induction of state-of-the- art technology by the textile units.
The benefits under the scheme include:

5% interest reimbursement of the normal interest charged by the lending agency on RTL, or



• 5% exchange fluctuation (interest & repayment) from the base rate on FCL, or

• 15% credit linked capital subsidy for SSI sector, or

• 20% credit linked capital subsidy for powerloom sector (An option for ‘front ended’ subsidy
  provided w.e.f. 1st October, 2005), or

• 5% interest reimbursement plus 10% capital subsidy for specified processing machinery.

IDBI, SIDBI and IFCI were the nodal agencies for Non-SSI textile sector, SSI textile sector and Jute sector respectively. However, w.e.f. 1st October, 2005, 13 additional nodal banks have been appointed under TUFS for determining eligibility & releasing the subsidy for the cases financed by them.

To know more details on TUFS : click here.

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