Government waives loans up to Rs 1 lakh for handloom weavers

Government waives loans up to Rs 1 lakh for handloom weavers
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The government has announced good news for the weaving community. On Sunday, it declared a waiver of handloom loans up to ₹1 lakh and sanctioned ₹33 crore to support weavers.

A government order (GO No. 56) was issued to implement this loan waiver and financial sanction. Textiles Minister Tummala Nageswara Rao stated that the government has taken several policy decisions to revive the handloom sector, which was previously neglected. He mentioned that after the Congress government came to power, they issued GO No. 1, I&C (TEX) on March 11, 2024, and initiated steps to purchase handloom products from TGSCO. This move aims to provide continuous employment to weavers, improve their livelihoods, and boost the handloom industry.

To keep up with new technologies in the handloom sector, the government has set up the Konda Laxman Bapuji Indian Institute of Handloom Technology (IIHT). This institute will offer a three-year diploma course (DHTT) for 60 students every year, helping to upgrade skills in the industry.

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Download our AppGovernment waives loans up to Rs 1 lakh for handloom weavers

To address the long-standing demands of powerloom workers, the government has also set up a yarn depot in Vemulawada, Rajanna Sircilla district, with a ₹50 crore corpus fund. The Minister recalled that Chief Minister A. Revanth Reddy had promised to implement the ‘Telangana Chenetha Abhayahastha Scheme.’ For the year 2024-25, the government has allocated ₹168 crore for this scheme. Additionally, ₹290.09 crore has been released through the Netanna Cheyutha Scheme, benefiting 36,133 handloom workers.

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The government has also decided to provide ₹10 lakh insurance under the Netanna Bima Scheme. The age limit for this insurance has been removed, ensuring coverage for weavers throughout their professional careers. The Minister emphasized that the government is ensuring continuous employment for weavers by purchasing stocks from handloom cooperative societies and making timely payments.

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