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Textile units in North Maharashtra to get capital subsidy

The government of Maharashtra has announced capital subsidy for the upcoming self-financed projects in the state and special subsidy for the textiles units in North Maharashtra, Marathwada and Vidarbha.

As per the government GR No. 2015/151/Tex-5, capital subsidy will be provided under new textile policy 2011-17 to the self-financing textile project, wherein the spinning mills, cotton ginning, processing and printing units will be given 35 per cent capital subsidy, technical textiles and composite units will be given 30 per cent capital subsidy, and power loom and other textile related units will be given 25 per cent. The government resolution further said that the upcoming textile units in North Maharashtra, Marathwada and Vidarbha can avail additional subsidy of 10 per cent.

“Additional subsidy of 10 per cent is announced for these regions as they are cotton growing areas and establishment of new units in these areas will help the industry and in generating employment”, the GR said, adding, the government will provide the capital subsidy in above listed sector for the machineries which fulfill the Technology Upgradation Fund Scheme (TUFS) criteria of the central government.