New Delhi, Mar 8 (KNN)The government has approved a Revival, Reforms and Restructuring (RRR) Packageas well as a Comprehensive Package for the handloom sector to provide financial and input support to weavers.
The RRR package aims at waiving overdue loans and interest of eligible handloom cooperative societies and individual weavers as on March 31, 2010, according to an official statement issued by the Minister of Textiles,Anand Sharma in the RajyaSabharecently.
It also provides fresh credit with an interest subsidy of three per cent for three years with credit guarantee to the societies and weavers under the RRR package.
In addition, loan to the handloom sector at the rate of 6 per cent was announced in the Budget recently.
With regard to weavers not covered under the RRR package, they will receive benefit under the Comprehensive Package, by which individual weavers can avail of subsidized credit and yarn. 
Credit related interventions of the Ministry are issue of weavers’ credit card; interest subvention at 3 per cent for 3 years on fresh loans sanctioned; margin money assistance at Rs4200 per handloom weaver and credit guarantee for 3 years. 
Besides, to ensure the availability of subsidized yarn, the government will provide a 10 per cent price subsidy on domestic silk and cotton hank yarn to handloom weavers.
As per the All India Handloom Census of 2009-10, there are 23.77 lakh handlooms, 44 Apex and 15, 926 functional Primary Weavers Cooperative Societies across the country. (KNN/Gunj)