Minister of Handlooms & Textiles K T Rama Rao launched a new savings scheme Netannaku Cheyutha for handloom workers in Telangana. Ministers Etela Rajender, G Jagdish Reddy and Jogu Ramanna participated in the event at Pochampally, Yadadri Bhuvanagiri District. KTR announced that 50percent subsidy on yarn and imprints will be given to the handloom weavers.
He said that the government will bring a revolutionary change for the welfare of the weavers. As per the scheme the beneficiaries ought to contribute a share of 8percent towards the savings scheme, while the share of the government will be 16 percent up to a maximum of Rs 2,400 per month. Each month, the customer’s share will be contributed to RD1 account while the governments share will be credited to RD2 account. After minimum 3years, the beneficiaries can withdraw the amount from both the accounts. Through this scheme, the government anticipates to increase the monthly income of handloom workers between 30percent to 70percent thus improving the livelihood of weavers in the state. The beneficiaries who are above 18 and all handloom workers including weavers, Dyers, Wrappers, Ancillary weavers can fill the prescribed application form and submit it to the concerned assistant director. The government made an allocation of 73crore for this scheme of the 373crore allocated to the handloom sector alone in 2017-18 budget.