The Technology Up-gradation Fund Scheme (TUFS)
This Scheme is started on April 1, 1999 for a period started from 1-04-1999 to 31-03-2004 i.e five years and again it was extended up to March 31, 2007. In 2007 the Scheme was further extended with modifications and is referred as Modified TUFS (MTUFS).The Scheme provides for interest reimbursement/capital subsidy/Margin Money subsidy and has been devised to bridge the gap between the cost of interest and the capital component to ease up the working capital requirement and to reduce the transaction cost etc.
What are the eligibility conditions under the Scheme
Any textile unit, which is eligible as per the normal lending norms of the concerned financial institutions and fulfils the benchmark criteria of the scheme, can avail of funds under the Scheme. However, the following types of units are eligible under the scheme.
- Existing unit with or without expansion and new units.
- Existing units can modernise and / or expand with the state-of-the-art technology.
- New units must set up their entire facilities only with the appropriate eligible technology.
- A unit can undertake one or more activities in an integrated manner as specified in the scheme.
- Textile/Jute units with 100% foreign equity.
- 5% Interest Subsidy or 15% Margin Money Subsidy for all SSI Units.
- 2% OR 5% Interest Subsidy for Spinning Units.
- 6% Interest Subsidy and 15% Capital Subsidy for Weaving Units.
- 5% Interest Subsidy and 10% Capital Subsidy for specified processing, garmenting, Technical Textile, machinery.
- 30% Capital Subsidy for Brand new shuttle less looms.
- 2% Interest Subsidy or 8% Margin Money Subsidy for Second Hand Shuttleless Looms.
- 30% Capital Subsidy for Handloom & Carpet Industry
We, Prospect Legal provide Consulatncy Services For TUFS Scheme under MSME of India
For TUFs Consultancy Scurvies in India
Call: 975-281-2898 | 975-207-7788