Govt to continue SITP during 11th Plan
The government on Friday decided to continue the Scheme for Integrated Textile Parks (SITP) during the 11th Plan period and set up 10 such new parks at an expenditure of Rs 15,258 crore.
By PTI |
NEW DELHI: The government on Friday decided to continue the Scheme for Integrated Textile Parks (SITP) during the 11th Plan period and set up 10 such new parks at an expenditure of Rs 15,258 crore.
In a meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime minister Manmohan Singh, it was decided to continue the existing norms for release of government support to the scheme, according to an official release issued after the end of the CCEA meeting.
"Development of additional textiles parks will facilitate additional investment, employment generation and increase in textile production," it said.
As per the target for the 10th Plan, 30 textile projects have been approved with an estimated project cost of Rs 2,893.42 crore and the government would provide an assistance of Rs 1,054.76 crore, the release said.
Four such parks would be set up in Andhra Pradesh, seven in Gujarat, one each in Karnataka, Punjab and West Bengal, six each in Maharashtra and Tamil Nadu and four in Rajasthan, it said.
Estimated employment generation would be more than 5.45 lakh, the release said.
The projected investment in these parks is Rs 15,258 crore and estimated annual production would be Rs 24,000 crore and they are expected to be operational by March next year, it added.
In a meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime minister Manmohan Singh, it was decided to continue the existing norms for release of government support to the scheme, according to an official release issued after the end of the CCEA meeting.
"Development of additional textiles parks will facilitate additional investment, employment generation and increase in textile production," it said.
As per the target for the 10th Plan, 30 textile projects have been approved with an estimated project cost of Rs 2,893.42 crore and the government would provide an assistance of Rs 1,054.76 crore, the release said.
Four such parks would be set up in Andhra Pradesh, seven in Gujarat, one each in Karnataka, Punjab and West Bengal, six each in Maharashtra and Tamil Nadu and four in Rajasthan, it said.
Estimated employment generation would be more than 5.45 lakh, the release said.
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The projected investment in these parks is Rs 15,258 crore and estimated annual production would be Rs 24,000 crore and they are expected to be operational by March next year, it added.
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