The Indian textile mills that had made investments for upgrading technology at their existing units as well as to establish new units with state-of-the-art facilities under the Technology Upgradation Fund Scheme (TUFS) more than three years back are still waiting for subsidy release which as per them is worth Rs. 2,500-3,000 crore. The Government has set up an inter-ministerial steering committee to look into this issue which is headed by Textile Minister Santosh Kumar Gangwar, to soon finalize a consultant to accurately calculate the subsidy amount to be paid. After taking the report into consideration, the panel will place a final proposal for the clearance by the Cabinet Committee on Economic Affairs.
