Ease of Doing Business for MSMEs: The Central Government’s Weaver Mudra Scheme has provided financial aid to nearly 370 weavers of Vizianagaram district in Andhra Pradesh in the last three years, as per a report by The New Indian Express (TNIE). The scheme launched by the Union Textile Ministry benefitted 121 weavers in the financial year 2022-2023 who were able to avail credit through Mudra loans for their working capital requirements.
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“I have received a loan of Rs 50,000 through WMS. I have bought raw material with this loan amount. Now I am paying loan in easy monthly instalments,” a handloom weaver from Vizianagaram, Dora Veeraju, told TNIE.
Vizianagaram is home to around 800 weavers who depend on weaving handloom/khadi. Out of these 706 are eligible for the financial aid under Nethanna Nestham scheme, launched by the Andhra Pradesh government.
Y.S.R. Nethanna Nestham scheme was aimed to provide Rs 24,000 per annum to every weaver family who owns a handloom to support them in modernizing their equipment and to compete with the power looms sector.
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Meanwhile, under the Weaver MUDRA Scheme, margin money assistance at 20 per cent of loan amount subject to a maximum of Rs 10,000 per weaver, loan at 6 per cent interest rate and credit guarantee for a period of three years is provided to handloom weavers/weaver entrepreneurs across the country, as per the Textile Ministry official release.