Summary:
With just Rs700 crore for the ATUFS, modernization in the textile industry will be affected. Out of the total 7,000 files submitted for subsidy under ATUFS, only 70 have been approved for disbursal across the country.” The government had earlier allocated Rs17,822 crore, including Rs5,151 crore for ATUFS for the 13th Five Year Plan in order to clear long-pending committed liability.Leader of power loom sector, Ashish Gujarati said, “ATUFS is lifeline of the textile sector. The power loom weavers who have to repay loan instalment will face a difficult situation.”Power loom weavers stated that 1,500 files from Surat are pending for subsidy approval at the textile commissioner’s office under the ATUFS for 10% subsidy. The weavers had ordered machinery from foreign countries for taking benefit of the subsidy..