CURRENT AFFAIRS

Detailed explanation-1: -The yarn bank scheme for knitting and knitwear units will provide an interest-free corpus fund of a maximum of up to Rs 2 crore per yarn bank to a Special Purpose Vehicle (SPV).

Detailed explanation-2: -Ministry of Textiles has launched many schemes over the past few years for the promotion of the Textile Industry in India and improving the livelihood of the people associated with it. Schemes like Project SURE, Scheme For Integrated Textile Park (SITP), Silk Samagra, Powertex India, and Samarth were launched.

Detailed explanation-3: -Integrated Processing Development Scheme (IPDS): In order to facilitate the textile industry to meet the required environmental standards and to support new Common Effluent Treatment Plants (CETP)/ upgradation of CEPTs in existing processing clusters as well as new processing parks specially in the Coastal Zones.

Detailed explanation-4: -PM MITRA scheme: The government approved setting up of Seven Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) Parks in Greenfield/Brownfield sites with an outlay of ₹4,445 crore for a period of seven years up to 2027-28.