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AP Launches ₹5 Crore Thrift Fund for Weavers, Offsets GST for Handlooms

AP Govt to Bear GST on Handloom Products

The Andhra Pradesh government, in support of the handloom sector and to assist the weavers of the state, has declared certain initiatives.

A comprehensive review meeting at the State Secretariat has been chaired by Chief Minister N Chandrababu Naidu concerning the welfare of handloom workers and revitalising the sector.

RP Sisodia, Special Chief Secretary of Handlooms and Textiles Department, and Commissioner Rekha Rani, among other officials, have attended the meeting. Naidu, handloom is the second-largest rural livelihood sector after agriculture, and the government should support those whose livelihoods depend on it.

He recalls his interaction with a weaver’s family during his visit to Jammalamadugu, and cites that various important issues have come to know, prompting quicker action. 200 units of free electricity for traditional looms and 500 units for power looms per month have been decided to be provided by the government. Naidu asked the officials to start implementation without delay.

On Goods and Services Tax (GST) on handloom products, a decision was taken. The GST burden on handloom textiles will now be managed by the State government, paying the tax to the Centre on behalf of the sector. It fulfils the election promise and is anticipated to make the handloom products cheaper while improving sales and benefiting weavers.

Sisodia said that the same initiative shall surge the demand of the market and enhance the income of weavers. Also Rs 5 crore thrift fund to support handloom workers has been proposed by the Chief Minister, which ensures financial security in difficult times.

Naidu asked to start all these measures from August 7, aligning with National Handloom Day. Also, the review specified the achievements of the State’s handloom sector, with the State receiving national-level awards under the One District One Product (ODOP) initiative.

Read Also: GST: Power Loom Weavers Demand Tax Refunds Due to Financial Problems

Sisodia and Rekha Rani showed these awards to Naidu, who praised the achievement. The dedication of the government has been outlined by these decisions to revive the traditional handloom sector and uplift the livelihoods of weavers of the State.

Disclaimer:- "All the information given is from credible and authentic resources and has been published after moderation. Any change in detail or information other than fact must be considered a human error. The blog we write is to provide updated information. You can raise any query on matters related to blog content. Also, note that we don’t provide any type of consultancy so we are sorry for being unable to reply to consultancy queries. Also, we do mention that our replies are solely on a practical basis and we advise you to cross verify with professional authorities for a fact check."

Published by Arpit Kulshrestha
Arpit Kulshrestha seeks higher interests in financial services, taxation, GST, I-T, etc. Writes articles with depth knowledge and is extensive for the same. The resources provide effective articles for the products of SAG infotech which provides taxation and IT software. Writing from observations and researching makes his articles virtuous. View more posts
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