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AP first to ink MoU on handloom revival

HYDERABAD: Andhra Pradesh is the first state to sign a memorandum of understanding with the central government and the National Bank for Agriculture and Rural Development for implementation of

Published: 25th March 2012 05:37 AM  |   Last Updated: 16th May 2012 06:41 PM   |  A+A-

HYDERABAD: Andhra Pradesh is the first state to sign a memorandum of understanding with the central government and the National Bank for Agriculture and Rural Development for implementation of the Revival, Reform and Restructuring Package for Handloom Sector, a new centrally-sponsored plan with an outlay of Rs 3,884 crore being implemented in the country, chief minister N Kiran Kumar Reddy has said.

Speaking at the 177th State-Level Bankers Committee meeting at Jubilee Hall here on Saturday, he said the AP State Handloom Weavers' Co-operative Society Limited (Apco), primary weavers co-operative societies, self-help groups, joint liability groups, individual weavers and master weavers in the state would get a benefit of Rs 303 crore under the scheme.

Reddy said implementation of the scheme would also strengthen weavers cooperative societies through computerisation and adoption of Management Information System (MIS) and Common Accounting System.

To implement the scheme, the state government allocated Rs 100 crore towards the state's share for 2012-13.



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