The Rajasthan Government on Friday sanctioned release of Rs.19 crore for modernisation of four units of the Rajasthan Rajya Sahakari Spinning and Ginning Mills Federation Limited (Spinfed), a State undertaking planning and implementing the cotton processing programmes in their entirety.According to an official release here, Chief Minister Ashok Gehlot approved the release of funds while accepting the recommendation of a Cabinet Sub-Committee appointed on the subject.
The funds would include Rs.13.94 crore received from the National Cooperative Development Corporation (NCDC) and Rs.5.07 crore sanctioned to the Hanumangarh unit as its share in the State Plan. Mr. Gehlot also approved a proposal to provide a loan guarantee worth Rs.10 crore in the shape of working capital through the Apex Cooperative Bank for running the Spinfed units.
Spinfed, which started its operations as an apex organisation in 1993, has brought four distinct cooperative spinning mills in the textile sector at Gangapur, Hanumangarh and Gulabpura under one roof. Its work includes manufacture of quality cotton yarn and its marketing. The Spinfed units have emerged as a powerful force in the textile industry in the desert State.
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After the virtual monopoly of Sriganganagar and Hanumangarh districts in the cotton production for several years, farmers in new areas such as Pali, Nagaur, Jalore, Jodhpur, Bhilwara, Banswara, Ajmer, Dausa, Alwar and Bharatpur have also evinced interest in this crop.