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Amended Technology Up-gradation Fund Scheme (ATUFS)

  • IASbaba
  • October 25, 2021
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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.

Key takeaways 

  • The Ministry of Textiles had introduced Technology Upgradation Fund Scheme (TUFS) in 1999 as a credit linked subsidy scheme.
  • Objective: 
    • 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

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