Of the Rs 1,400 crore in subsidies due to the industry since 2010, only Rs 427 crore in the form of power subsidy had been released
Of the Rs 1,400 crore in subsidies due to the industry since 2010, only Rs 427 crore in the form of power subsidy had been released. (Photo: DC/File)
Guntur: The AP Spinning Mills Association on Sunday asked the state government to take steps to rejuvenate the cotton industry.
Association president Dharmateja Paruchuri told reporters that the spinning mills were on the verge of closure due to subsidies being held back. He appealed the government to help the by releasing pending subsidies.
Mr Paruchuri said that spinning industry is highly capital intensive and provides direct employment to about one lakh people and indirectly supports another two lakh in the state, besides another one lakh cotton farmers.
“These days, all the people connected to the industry are facing tough times due to global competition,” Mr Paruchuri said, adding that of the Rs 1,400 crore in subsidies due to the industry since 2010, only Rs 427 crore in the form of power subsidy had been released.
He feared that if the situation continues, the very existence of the industry was doubtful. Mr Paruchuri and other leaders of the association appealed the government to introduce a new cotton policy to help the industry.
( Source : dc correspondent )
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