Summary of Key Points
- Budget allocations to the Handloom and Handicrafts sector have not matched their role in the economy. Despite employing approximately 3% of the total workforce, combined budget allocations to handloom and handicraft sector remains only 0.06% of total budget expenditures. In actual terms, while the total budget expenditure estimate for the year 2010-11 is eleven lakhs eight thousand seven hundred and forty nine crores(INR 11,08,749 crores), the combined budget allocation for handloom and handicraft is six hundred eighty eight crores(688.47 crores).
- The overall budget for the textile sector has been consistently increasing over the years but the total budget for handlooms reduced over its previous year allocations in six out of the last fourteen years.
- The budgetary allocations to the textile sector grew by over 650 percent, from Rs.739.04 Crores to Rs.5608.08 Crores during 1997-98 to 2009-10. However, the share of handlooms registered an increase of only a little above eighty percent(81.43%) over the same period, from Rs. 203.50 Crores to 369.22 Crores. In average terms this means in the last fourteen years since 1997, while budgetary allocation to the textile sector grew at an annual average rate of more than forty five percent , the annual avera...