CHENNAI: State Chief Minister J Jayalalithaa has declared 20% subsidy in a bid to strengthen the output of yarn and cotton. This move would cost the exchequer Rs 12 crore per year.
Reports suggest that out of this, 5% would be alloted as bonus to the producers.
The subsidy would be given to spinning mills and cotton yarn producers.
Apart from raising the production of cotton yarn in Tamil Nadu, this initiative will be benefiting the spinning mill owners and weavers.