The Cabinet Committee on Economic Affairs (CCEA) approved the renaming of Mill Gate Price Scheme (MGPS) as Yarn Supply Scheme (YPS) on 9 January 2014.
The CCEA also approved the continuation of the MGPS with the new name in the 12th Five Year Plan (2012-17) and allowed 10 percent subsidy component with modifications. The Scheme has been allotted an outlay of 443 crore rupees in the 12th Plan.
Under the Scheme, the target for the 12th Plan is to supply 3506 lakh kg yarn worth of 4364 crore rupees. Besides, the Scheme aims to provide the services to identified beneficiaries. 23 lakh handloom units have been identified as beneficiaries.
The Scheme provides subsidized yarn to the under-privileged weavers and vulnerable groups so that they can compete with the powerloom and mill sector.
About Mill Gate Price Scheme (MGPS)
The MGPS was launched in 1992 by the National Handloom Development Corporation under the Union Ministry of Textiles.
The Scheme is to make yarn available to handloom weavers at mill gate price by reimbursing transportation charges to depot operating agencies, primary weavers cooperative societies, apex societies and other handloom organizations.
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What: Yarn Supply Scheme
When: 9 January 2014