Amended Technology Upgradation Fund Scheme

Amended Technology Upgradation Fund Scheme

News: Union Minister of Textiles has reviewed the Amended Technology Up-gradation Fund Scheme (ATUFS) to ease of doing business, bolstering exports & fuelling employment.

What is ATUFS?
• The Ministry of Textiles had introduced Technology Upgradation Fund Scheme (TUFS) in 1999.
• It is a credit linked subsidy scheme intended for modernization and technology up-gradation of the Indian textile industry.It aims at 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 web based iTUFS platform.Capital Investment Subsidy is provided to benchmarked machinery installed by the industry after physical verification.  

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