Weavers to access thrift scheme money ahead of lock-in period

KTR asks officials to ensure money reaches weavers as soon as possible

The State government will permit weavers access money accrued under the ‘Nethannaku Cheyutha’ thrift scheme immediately as a relief measure, in the face of COVID-19 pandemic, instead of them waiting for completion of a three-year lock-in period to do so.

About 26,500 weavers in the State stood to benefit from the decision of Industries Minister K.T. Rama Rao, said an official release on a review he undertook of the various initiatives of the department of handlooms and textiles on Saturday.

Under the scheme, weavers have a lock-in period of three years, from the time of their joining, before redeeming the money. “But considering the present situation, Mr. Rao decided to sanction the money to weavers immediately without waiting for three years,” the release said.

Mr. Rao said the weavers have saved ₹31 crore and the government added ₹62 crore as its share in the scheme. Following the decision, each weaver now can access an amount ranging from ₹50,000 to ₹1.25 lakh. He instructed the officials to ensure money goes into the hands of weavers as soon as possible. The government will also release ₹1.18 crore to weavers under cooperative societies, which have enrolled and completed an earlier savings scheme.

Mr. Rao said that the Telangana government has been supporting weavers and not only allocated a major share in the budget but also initiated various programmes and schemes to create a demand for their products. He reviewed the status of the production of Bathukamma saris as well as work pertaining to Kakatiya Mega Textile Park and Hyderabad Pharma City.

He held separate review meetings with various wings of the industries department such as aerospace and defence. Industries secretary Jayesh Ranjan, handlooms and textiles director Shailaja Ramaiyer and TSIIC chairman Gyadari Balamallu and MD E.V. Narasimha Reddy were present in the meeting, the release said.

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Printable version | May 30, 2020 8:44:39 AM | https://www.thehindu.com/news/cities/Hyderabad/weavers-to-access-thrift-scheme-money-ahead-of-lock-in-period/article31660694.ece

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