UP Govt Boosts Looms Sector With Rs 400 Cr Allocations In State Budget
In a significant move to revitalise the struggling looms sector, the Uttar Pradesh government, led by Yogi Adityanath, on Monday announced an allocation of Rs 400 crore for the Atal Bihari Vajpayee Powerloom Vidyut Flat Rate Yojana. This initiative aims to provide a substantial boost to the powerloom industry in the state.
Additionally, a major impetus to the textile industry comes with the approval of a mega textile park under the PM Mega Integrated Textiles Region and Apparel Scheme. The proposed park, spanning approximately 1,000 acres on the Lucknow-Hardoi Road, has been allocated Rs 400 crore in the budget.
It is anticipated that this textile park will attract investments ranging from Rs 10,000 to Rs 15,000 crore, leading to the creation of around one lakh direct and two lakh indirect employment opportunities.
Further emphasising the commitment to the textile and fashion sector, the National Institute of Fashion Technology (NIFT) in Varanasi, the Prime Minister's constituency, has been granted a boost of Rs 150 crore in the budget. This allocation is aimed at enhancing the capabilities and infrastructure of NIFT, contributing to the development of skilled professionals in the fashion industry.
The budget also includes provisions under various schemes aimed at supporting employment and entrepreneurship. Under the Pandit Deendayal Gramodyog Rojgar Yojana, a provision of an interest subvention facility for beneficiaries for three years has been made, with Rs 14 crore allocated for this purpose.
Additionally, Rs 15.75 crore has been earmarked for the Khadi and Gramodyog Vikas Satat Rojgaar Protsahan Neeti (Khadi and Village Industries Development and Continuous Employment Promotion Policy), indicating a focus on sustaining and promoting employment in the Khadi and Village Industries sector.
Recognizing the significance of traditional arts and crafts, the budget proposes an amount of Rs 11.25 crore for the Integrated Development Program of Clay Art. This initiative aims to provide employment opportunities to traditional artisans engaged in clay art, further contributing to the preservation and promotion of cultural heritage.
The comprehensive budgetary allocations underscore the Yogi Adityanath government's commitment to fostering economic growth, employment generation, and the overall development of key sectors in Uttar Pradesh.
