Amended Technology Up-gradation Fund Scheme (ATUFS)
Part of: Prelims and GS III – Economy
Context Union Minister of Textiles reviewed the Amended Technology Up-gradation Fund Scheme (ATUFS) to boost the Indian textile industry by enabling the ease of doing business, bolstering exports and fuelling employment.
- The Ministry of Textiles had introduced Technology Upgradation Fund Scheme (TUFS) in 1999 as a credit linked subsidy scheme.
- modernization and technology up-gradation of the Indian textile industry,
- promoting ease of doing business,
- generating employment and promoting exports.
- Since then, the scheme has been implemented in different versions.
- The ongoing ATUFS has been approved in 2016 and implemented through the web based iTUFS platform.
- Capital Investment Subsidy is provided to benchmarked machinery installed by the industry after physical verification.
- ATUFS was approved for a period from 2015-16 to 2021-22 with an allocation of Rs. 17,822 crore
- The scheme is administered with a two stage monitoring mechanism by Technical Advisory-cum-Monitoring Committee (TAMC) and Inter-Ministerial Steering Committee (IMSC).
- In 2019, IMSC decided to introduce physical verification of machinery and computation of subsidy before releasing committed liability under previous versions of the schem