Centre increases the textiles sector budget outlay of Amended Technology Upgradation Fund

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textiles sector
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The Union Minister of State for Textiles, Smt. Darshana Jardosh in a written reply to a question in Lok Sabha today informed that, the allocation of Textiles Sector in Budget 2023-24 is Rs. 4,389.34 crore. This is higher than the R.E of 2022-23 which is Rs. 3,579.61 crore.

Government has increased the budget outlay of Amended Technology Upgradation Fund (ATUF) from Rs. 650 crores in RE 2022-23 to Rs. 900 crores in BE 2023-24. As regards other steps for the development of textiles sector, initiatives and schemes/programmes of the Ministry of Textiles cover all key areas viz. Research, innovation and development; Textiles infrastructure development; Education, training and skill development, Market development, Exports promotion, Improvements on quality controls and standards etc. Some of the major schemes implemented by the government include: PM Mega Integrated Textile Region and Apparel (PM MITRA Parks), Production Linked Incentive (PLI) Scheme, Silk Samagra, Development of Handicraft Sector, Development of Handloom Sector, SAMARTH – Scheme for Capacity Building in Textile Sector, Development of Jute Textile Scheme, Integrated Wool Development Programme (IWDP), and National Technical Textile Mission (NTTM) etc. These schemes and programmes are oriented towards promotion and development of Textile Sector on Pan-India basis.

Source – PIB India

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