The Technology Upgradation Fund Scheme (TUFS) for the textile industry will require additional funds for the XII Plan, according to a senior official of the Textile Ministry.
Textile Commissioner Kiran Soni Gupta told presspersons here on Thursday that the allocation for the scheme for the current Plan was Rs.11,900 crore. Of this, Rs.9,500 crore was for committed liabilities. On an average, Rs.2,500 crore is disbursed annually under TUFS. Hence, the Office of the Textile Commissioner had sought additional allocation, she said.
The Textile Commissioner said the TUFS had distinctive advantage to the industry. Units had been facing problems for the last few years in getting the subsidy and the Office of the Textile Commissioner was working on development of software to take the entire application process online, she said. “We are trying to put the whole process online. Beneficiaries will be able to submit the application online and track it. The beneficiaries, banks and the office of the textile commissioner will fill in the required details online,” she said.