✔ PowerTex India scheme for powerlooms:
▪️The Union Ministry of Textiles has launched PowerTex India, a three-year comprehensive scheme for Powerloom Sector Development.
▪️The PowerTex India scheme aims to boost common infrastructure and modernisation of the powerloom sector in the country.
✔️ Key Facts:
▪️PowerTex India scheme comprises new research and development in power loom textiles, new markets, branding, subsidies and welfare schemes for the workers.
▪️It has overall nine major components, including two new schemes. It has outlay of Rs. 487 crores for three years from 2017-18.
▪️The two new schemes are Pradhan Mantri Credit Scheme (PMCS) for powerloom weavers and solar energy scheme (SEC) for powerlooms.
▪️PMCS for powerlooms: Under it, financial assistance, including margin money subsidy and interest reimbursement, will be given as against the credit facility under Pradhan Mantri Mudra Yojana to the decentralised power loom units.
▪️SEC for powerlooms: Under it, financial subsidy for the installation of the Solar Photo Voltaic Plants will be provided to alleviate the problems of power cuts.
▪️Government will provide subsidy of 50% to power loom units having maximum eight looms for adopting solar energy for captive use either in grid or off grid system.
▪️Other components of the scheme: In-situ Upgradation of Plain Powerlooms; Group Workshed Scheme (GWS); Yarn Bank Scheme; Common Facility Centre (CFC); Facilitation, IT, Awareness, Market Development and Publicity for Powerloom Schemes, Tex Venture Capital Fund and Grant-in-Aid and Modernisation & Upgradation of Powerloom Service Centres (PSCs)
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