Power Looms to Get Subsidy for Shift to Solar PV Mode

Government will provide financial assistance in the form of capital subsidy for solar PV installation in decentralized power looms

Government has approved a new scheme to provide financial assistance in the form of capital subsidy to small power loom units for installation of solar PV (SPV) plants.

The scheme aims to alleviate the problem of power cuts faced by the decentralized power loom units in the country.

"The funds requirement for the three years (2017-18, 2018-19 and 2019-2020) would be Rs 19.95 crore covering 480 power loom units," Union Textiles Minister Smriti Irani said in a written reply in the Rajya Sabha.

The subsidy is expected to make power cost economical for the looms and make the units self-sufficient on the power front while the government can supply grid power to other industries.

PTI FEED