Incentive to Jute Industry: The price for acquisition of jute bags under Jute Packaging Materials Act, 1987, is declared every month by the Jute Commissioner as per the Tariff Commission pricing formula accepted by the Government. This applicable pricing formula was last revised in 2002. The Government is providing 20% capital subsidy on the cost of specific approved machinery installed by the jute mills to facilitate modernization and to improve the productivity and efficiency in the jute industry. In addition, the jute mills can also avail the benefits under Technology Upgradation Fund Scheme (TUFS) for their modernization. Government of India is also providing financial assistance for the welfare of workers in jute mills to improve sanitation, health facility and working conditions etc.
Posted on: Fri, 01 Aug 2014 10:43:52 +0000
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