By admin       2017-01-11

The Maharashtra government today gave its approval for payment of interest on loans borrowed by the state cooperative spinning mills from the financial institutions or the National Development Corporation for a period of five year.It has also decided not to re-adjust interest received by yarn mills on the government's capital investment. According to an official release issued here after the cabinet meeting, the State Govenrment has provided financial assistance to 130 spinning mills that includes 109 in general category and remaining 21 in backward category.As per the Government's decision taken in February last year, major cotton-producing districts like Jalgaon, Yavatmal, Aurangabad, Jalna, Parbhani, Amravati and Nanded will be given 80 per cent financial assistance and remaining will get 20 per cent assistance from Government.Due to economic slowdown in last three years, the spinning mills were facing financial problems, therefore, Government decided to give them financial assistance, it added.UNI ST SS NP RSD RJ BL2324

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