Bhubaneswar: Odisha Chief Minister Naveen Patnaik has approved a proposal to enhance the interest-free bank loan given to weavers to meet their working capital needs under the BALIA (Bunakar Assistance For Livelihood And Income Augmentation) scheme from the existing Rs 50,000 to Rs 1 lakh, said an official press release.
As per Handloom Census 2019-20, as on 01.04.2021, there are 66,141 weavers’ households having 1,24,084 workforce with 56,569 looms.
According to the guidelines of the scheme, weavers can avail of working capital as per their requirements to a maximum of Rs 1 lakh from the bank at zero interest. The scheme will be implemented both in urban and rural areas. Through the scheme income and standard of living of the beneficiaries will rise.
Due to the repeated rise in the cost of yarn, colours and other raw materials, there was a need for increasing the working capital requirement of weavers for constant growth of business along with enhancing production and distribution capacity and Rs 50,000 was not sufficient. Hence the Chief Minister approved a proposal to increase the loan amount from Rs 50,000 to Rs 1 lakh.
