Now, handloom weavers may get debt waiver too

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The Centre is considering extending the debt waiver scheme to the handloom weavers. The debt waiver is expected to cost the government about Rs 1,200 crore, textile minister Shankersinh Vaghela has said.

Vaghela, on Tuesday said , “The committee had submitted its first report to the finance ministry and is expected to submit its final report soon. Based on the report the government will take a decision on it, he added.

In the first report, the committee had recommended on various aspects including the waiver of overdue loans ,besides providing loan at 7% interest per annum. An estimated 6.5 million people will be benefited with the decision. The textile ministry has also proposed to offer the loan waiver, including the interest payment, as on March 2006.

The ministry also proposed to clean up the apex and primary handloom cooperative societies with the help of governmental funding and also offer credit line with lower interest rates to the handloom weaver societies, the minister said. Following protests from the handloom weavers, APCO chairman M Sriramulu suggested that the farmers’ debt waiver scheme should be extended to the handloom sector. He proposed to take a delegation from the weaver community to chief minister Rajasekhara Reddy.