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Nod for 21 new integrated textile parks
Thursday November 08, 2012 04:56:26 PM,
IANS
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New Delhi: The
government Thursday approved the release of funds for the
establishment of 21 integrated textile parks sanctioned in the
11th Five Year Plan.
The cabinet committee on economic affairs (CCEA), in a meeting
held here, also committed the government to providing for
liability beyond Rs.200 crore.
In October 2010, the CCEA had approved a proposal for setting up
additional 21 integrated textile parks utilising the Rs.200 crore
left in the 11th plan.
"The process of (fund) releases took longer than anticipated and
therefore funds available in the 11th plan could not be utilised,"
the CCEA said in a statement.
According to the statement, the total liability will amount to
Rs.819 crore which will extend into the 12th Plan period for the
amendment of the financial approval granted by the CCEA in October
2010.
"CCEA further approved the adoption of amendments in guidelines of
the scheme to improve implementation," the statement said.
The scheme of integrated textile parks has been successful in
attracting private sector investment, employment generation and
creation of need and product based infrastructure for the textile
industry.
"With the increasing costs of production in the established
clusters and highlighted emphasis on environmental compliances,
there is growing need for establishment of such green field
textile parks," the statement added.
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