Rs. 15 Cr. for Handloom Weavers Loan Waiver Scheme in Telangana

November 19, 2017 | UPDATED ON: November 19, 2017
Handloom Weavers Loan Waiver Scheme

The state government of Telangana has launched Handloom Weavers Loan Waiver Scheme to give a boost to the handloom sector. Under the scheme, the government will pay the loans of weavers so that they can become debt-free. The beneficiary will get the loan waiver of up to Rs. 1 Lakh. This handloom weaver loan waiver scheme will cover about 2,467 handloom weavers across the state.

This Handloom Weavers Loan Waiver Scheme will cover the loans taken by the weavers from any Nationalized bank or District Cooperative Central Banks (DCCBs). This scheme will waive off only the loans that were taken between 1 June 2014 and 31 March 2017. However, the weavers who have taken loans of above Rs. 1 lakh will also be eligible for the scheme but the government will pay maximum Rs. 1 Lakh which would be directly transferred to the loan account of the beneficiary.

However, the government has informed that about 205 weavers (out of 2,467) who have paid their loans balance, will also be eligible to get Rs. 1 lakh under Handloom Weavers Loan Waiver Scheme. Such handloom weavers also faced several problems to make repay the amount of loan.

Handloom Weavers Loan Waiver Scheme Telangana

The state govt. will spend Rs. 10.10 crore to protect handloom weavers from debt-trap and the remaining amount of Rs. 5.65 crore will be spend for 1,018 powerloom weavers. The aim of the scheme is to ensure sustainable employment and welfare of weavers. The government will also provide marketing facilities to increase brand promotion of products.

Moreover, the state government has extended the benefits of the Cooperative Thrift Fund Scheme to weavers both within the cooperative sector and outside including the ancillary workers like winders, designers and dyers.

Moreover, this loan waiver scheme will resolve the problems of insufficient raw material supply, tough competition, insufficient marketing facilities etc. The government will also provide adequate budgetary support to the Handloom Sector. This scheme will also help the weavers to increase their livelihood earnings in the handloom sector.

SAVE AS PDF Sarkari Yojana App - Download Now
Rajesh Kumar at Sarkari Yojana