Moneycontrol
Mar 16, 2017 03:01 PM IST | Source: PTI

Government frames solar scheme to promote powerloom sector

Under the scheme, the government will provide financial assistance and capital subsidy to the extent of 50 percent, 75 percent and 90 percent of the basic cost of the solar energy plant to applicants.

The government today said it has formulated a scheme to provide incentives and concessions to loom weavers to utilise solar energy to increase production.

Minister of State for Textiles Ajay Tamta said that for the development of the powerloom sector, the government has formulated the 'Solar Energy Scheme'.

"The scheme will come into force from April 1," he said in a written reply to the Lok Sabha.

Under the scheme, the government will provide financial assistance and capital subsidy to the extent of 50 percent, 75 percent and 90 percent of the basic cost of the solar energy plant to applicants.

To a separate question, he said the government has conducted a study on the Scheme for Integrated Textiles Parks.

The study has indicated that many of the parks have done well, but "the parks are yet to attain their planned investment levels due to lower occupancy rates".
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