An interest-free loan of upto ₹5 lakh for silk reelers announced by Chief Minister Siddaramaiah to provide them easier access to working capital is expected to strengthen the sericulture sector in the State.
While presenting the State Budget 2023-24 on Friday, Mr. Siddaramaiah said the interest-free loan upto ₹5 lakh to silk reelers will also enable them to actively participate in the purchase of cocoons.
Retired Deputy Director of Sericulture Department N.Y. Chigari told The Hindu that most of the silk reelers in the State belonged to economically-weaker sections of the society, who did not have sufficient purchasing capacity.
