Tirupur: Expressing their appreciation to the Tamil Nadu State government on the recently released 2020-2021 budget, the President of Tirupur Exporters's Association (TEA) has noted that the allotment of Rs.1,224.25 crore for the Handlooms and Textiles sector will help boost the segment.
Tirupur: Expressing their appreciation to the Tamil Nadu State government on the recently released 2020-2021 budget, the President of Tirupur Exporters's Association (TEA) has noted that the allotment of Rs.1,224.25 crore for the Handlooms and Textiles sector will help boost the segment.
Raja M Shanmugam, TEA President welcomed the environmental clearance for Athikadavu-Avinashi irrigation scheme with an allocation of Rs.500 crore in the budget.
Explaining on the benefits under Prime Minister’s Employment Generation Programme (PMEGP) and the Unemployed Youth Employment Generation Programme (UYEGP), he noted that the existing project size limit of Rs.10 lakh will be enhanced to Rs.15 lakh and the eligible subsidy under the scheme will be enhanced from Rs.1.25 lakh to Rs.2.5 lakh.The provision for this scheme has been enhanced to Rs.33 crore in the budget estimates 2020-21, he said.
He added this will encourage thousands of budding entrepreneurs.
President of TEA, Raja M Shanmugam also welcomed the move for enhancing the maximum capital subsidy under the NEEDS scheme from Rs.30 lakh to Rs.50 lakh and a sum of Rs.100 crore has been allocated for this scheme in the budget estimates 2020-21.
He also welcomed the enhancement of interest subvention under the Technology Upgradation Scheme and the Credit Guarantee Fund Trust scheme from 3 to 5 percent. And, the reduction in stamp duty for rental agreements under the new tenancy act to 0.25% from 1% and registration charges on such agreements to 0.25% from 1% subject to a maximum of Rs. 5,000.
Disclaimer: This news is carried based on a press release issued by TEA.
Raja M Shanmugam, TEA President welcomed the environmental clearance for Athikadavu-Avinashi irrigation scheme with an allocation of Rs.500 crore in the budget.
Explaining on the benefits under Prime Minister’s Employment Generation Programme (PMEGP) and the Unemployed Youth Employment Generation Programme (UYEGP), he noted that the existing project size limit of Rs.10 lakh will be enhanced to Rs.15 lakh and the eligible subsidy under the scheme will be enhanced from Rs.1.25 lakh to Rs.2.5 lakh.The provision for this scheme has been enhanced to Rs.33 crore in the budget estimates 2020-21, he said.
He added this will encourage thousands of budding entrepreneurs.
President of TEA, Raja M Shanmugam also welcomed the move for enhancing the maximum capital subsidy under the NEEDS scheme from Rs.30 lakh to Rs.50 lakh and a sum of Rs.100 crore has been allocated for this scheme in the budget estimates 2020-21.
He also welcomed the enhancement of interest subvention under the Technology Upgradation Scheme and the Credit Guarantee Fund Trust scheme from 3 to 5 percent. And, the reduction in stamp duty for rental agreements under the new tenancy act to 0.25% from 1% and registration charges on such agreements to 0.25% from 1% subject to a maximum of Rs. 5,000.
Disclaimer: This news is carried based on a press release issued by TEA.