An industry-friendly software i-ATUFS to be put in use for the Amended Technology Upgradation Fund Scheme has been is welcomed by the Southern India Mill?s Association (SIMA). The association chairman M Senthil Kumar said that the software will bring in transparency and tracking facility and might be a complete solution for the problems faced by the Ministry, beneficiaries and the lending agencies in the scheme.
The Central Government had notified the ATUFS in January this year and issued a resolution for the scheme on February 29. It has also considered the demand for allocation of UIDs since September 2014 for all the eligible applicants under the RR-TUFS.
The ATUFS will extend 10 per cent capital subsidy to all weaving and processing machines subject to a maximum of Rs 20 crore and a 15 per cent capital subsidy to a maximum of Rs 30 crore to garmenting, technical textiles, and composite units with garmenting or technical textile facilities.