Rs 33 Crore Loan Waivers To Handloom Workers

The Telangana government today approved the allocation of Rs 33 crore to facilitate loan waivers for handloom workers.

This initiative, part of the Handloom Weavers Scheme, will reportedly benefit a total of 5,691 handloom workers across the State.

Handlooms and Textiles Minister Thummala Nageswara Rao explained that, according to the guidelines, the waiver covered loans - both principal and interest - of up to Rs 1 lakh availed for handloom production and related professional activities.

The waiver applied to loans taken from all banks and District Cooperative Central Banks between April 1, 2017, and March 31, 2024, he said.

He added that verification of beneficiaries would be conducted on a district-wise basis as per the guidelines, and the waived loan amount would be credited to the workers' accounts promptly after the verification process was complete.

The minister also said that following the loan waiver, if workers wished to avail themselves of new loans, bankers would sanction fresh loans to the same extent.

The minister claimed that since the Congress government assumed office, approximately Rs 920 crore had been allocated for the welfare of handloom workers. To ensure sustained employment for these workers, all government departments had been directed to procure textiles from TGCO, resulting in textile orders worth Rs 579 crore from various departments, he added.

He also said that work had been secured for 16,000 weavers in Sircilla through the Indira Mahila Shakti Saree Scheme, that Rs 193 crore was being invested under the Handloom Abhayahastam Scheme, and that Rs 290 crore in pending dues from the previous government had been transferred directly to workers' accounts under the Netannaku Cheyutha Scheme.