Southern India Mills’ Association (SIMA) has welcomed the use of i-ATUFS, an industry-friendly software, for the Amended Technology Upgradation Fund Scheme.
The association chairman M. Senthil Kumar has said in a press release that the software will bring in transparency and tracking facility and might be a complete solution for the problems faced by the Ministry, beneficiaries and the lending agencies in the scheme.
The Central Government had notified the ATUFS in January this year and issued a resolution for the scheme on February 29. It has also considered the demand for allocation of UIDs since September 2014 for all the eligible applicants under the RR-TUFS.
The ATUFS will provide 15 per cent capital subsidy to a maximum of Rs. 30 crore to garmenting, technical textiles, and composite units with garmenting or technical textile facilities. It will extend 10 per cent capital subsidy to all weaving and processing machines subject to a maximum of Rs. 20 crore.
The association chairman M. Senthil Kumar has said in a press release that the software will bring in transparency and tracking facility and might be a complete solution for the problems faced by the Ministry, beneficiaries and the lending agencies in the scheme.
The Central Government had notified the ATUFS in January this year and issued a resolution for the scheme on February 29. It has also considered the demand for allocation of UIDs since September 2014 for all the eligible applicants under the RR-TUFS.
The ATUFS will provide 15 per cent capital subsidy to a maximum of Rs. 30 crore to garmenting, technical textiles, and composite units with garmenting or technical textile facilities. It will extend 10 per cent capital subsidy to all weaving and processing machines subject to a maximum of Rs. 20 crore.