The Jammu and Kashmir government announced 2 new schemes for artisans to provide fillip to the famed handicrafts and handloom sector in Jammu and Kashmir.
In a first, the government announced a new financial support scheme for cooperatives and self-help groups (SHGs) registered in the handicrafts and handloom department under the J&K Self Reliant Cooperative Act, 1999 by replacement of the existing Managerial Subsidy Scheme.
Under the scheme, each cooperatives/ SHG shall be provided a one-time financial support of Rs.1lakh in two equal installments of Rs 50, 000/- each.
An annual target of 2000 Cooperatives/ SHGs has been fixed for implementation in both rural and urban areas of the Union Territory.
The government also announced a new credit card scheme for artisans and weavers of the handicrafts and handloom sector by subsuming the credit card scheme for artisans and micro credit plan scheme for weavers in the erstwhile handicrafts and handloom departments.
Under the scheme, the loan slab has been enhanced from existing Rs.1.00 lakh to Rs.2.00 lakh with interest subsidy of 7% for a period of five years from the date of disbursement of the loan.
“All artisans and weavers who are duly registered with the handicrafts and handloom department and are involved in production and manufacturing processes shall be eligible for credit facility under the scheme.
“Both the schemes have been notified on the recommendations made in the J&K Wool Processing, Handicrafts & Handloom Policy – 2020 which has been adopted vide Government Order No.54-IND of 2020, dated 10.03.2020. The operational guidelines have also been notified along with the schemes for hassle-free implementation,” he added.
