Showing posts with label Textile Bank Loans. Show all posts
Showing posts with label Textile Bank Loans. Show all posts

Tuesday 15 March 2016

Delinking subsidy from bank loans a great boon for Indian textiles

Powerloom Machine



The Maharashtra Government, led by the Bhartiya Janata Party or the BJP has recently announced the provision of subsidy to owners of textile mills that wouldn’t be linked to bank loans. In what can be denoted a first-time move by the government, the textile industry on the whole would gain immense benefits. This has come to be of major relief to the large majority of Muslim powerloom owners, who had been demanding this delinking for a long time now. These Muslim powerloom owners, along with a large number of workers had always felt that the usury as well as the bank loans were against their religion, considering the fact that Islam does not allow the practise of taking or giving loans.