Textile Incentive Policy: State asks banks to be ready to give assistance

KOLKATA: Chief Secretary HK Dwivedi urged the bankers to be ready to provide necessary assistance to those who will derive the facilities of the Textile Incentive Policy which will be notified by the state government soon after the Puja.

Dwivedi chaired the State Level Bankers' Committee (SLBC) meeting at Nabanna Sabhaghar on Thursday afternoon to take stock of the status of loans being provided by the banks particularly in the MSME sector.

According to Nabanna sources, the Cabinet has recently approved the Textile Incentive Policy which will be notified soon after the Pujas. The state government will provide incentives in various areas that includes dyeing, spinning, hosiery, weaving, garmenting etc to provide further boost to the textile sector in the state.

The state government has received an overwhelming response under the 'Powerloom Incentive Policy' that was launched on December 30, 2021 mainly for the purpose of becoming self-dependent in garment production, particularly school uniforms for children.

Proposal for setting up of nearly 100 shuttleless powerlooms has come from West Burdwan district which presently does not have a single powerloom.

The Chief Secretary expressed satisfaction regarding the progress of disbursement of loans for the MSME sector.

Out of a target of Rs 1.10 lakh crore in this financial year, Rs 35,000 crore have already been disbursed which is 34 per cent of the total target.

Achieving 25 per cent of the target would have sufficed but the MSME sector has surpassed the target at the present juncture.