West Bengal boosts handloom & khadi weavers with new scheme.

The West Bengal government launched the Handloom and Khadi Weavers Financial Benefit Scheme 2024 to revitalize the handloom and khadi sector. This initiative aims to clear the debts of Primary Weavers Societies (PWCs) and empower individual weavers.

The scheme tackles a major hurdle for PWCs: Non-Performing Assets (NPAs) in cooperative banks. The government will significantly reduce their burden by covering the principal loan amount and 25 per cent interest. Banks will graciously waive the remaining 75 per cent. This financial aid aims to make PWCs solvent and pave the way for future growth.

To bring down production costs, yarn will be supplied at subsidized rates. PWCs can procure yarn through Tantuja, a state-run agency, at a 10 per cent discount. Additionally, PWCs will receive one-time assistance ranging from Rs 1 lakh to Rs 10 lakh based on their size and turnover. This financial injection will boost their operational capacity.

Individual weavers outside PWCs can receive Rs 5,000 for repairs or upgrades to their workspace and looms. The scheme also offers Rs 10,000 for raw materials, with the condition that yarn must be purchased through Tantuja.

A district-level committee will assess claims and ensure proper implementation. A state-level committee headed by the MSME and Textiles department's Principal Secretary will oversee the program's broader goals. This committee will establish guidelines and procedures for disbursing financial aid to viable and potentially viable societies and individual weavers.

This comprehensive scheme promises a brighter future for West Bengal's handloom and khadi industry by addressing debt burdens, lowering production costs, and offering direct financial support to weavers.