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With reference to the Mega Textile Park, consider the following statements:
  1. It is under PM Mega Integrated Textile Regions and Apparel (PM MITRA) scheme.
  2. A Special Purpose Vehicle owned by the Centre and State Government will be set up for each park which will oversee the implementation of the project.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
With reference to the Mega Textile Park, consider the following statem...
New Mega Textile Park at Dhar district will strengthen Make in India and will create new job opportunities: PM Modi
  • The Parks will come up in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra.
  • It is under PM Mega Integrated Textile Regions and Apparel (PM MITRA) scheme.
  • It will offer the opportunity to create an Integrated Textiles Value Chain right from spinning, weaving, processing/dyeing and printing to garment manufacturing etc. at one location and will reduce the logistics cost of the Industry.
  • A Special Purpose Vehicle owned by the Centre and State Government will be set up for each park which will oversee the implementation of the project.
  • Funding:
    • The Central government’s budget outlay for the scheme, which is ₹4,445 crore, is to be spent till 2027-28.
    • Special purpose vehicles, with a 51% equity shareholding of the State government and 49% of the Centre, will be formed for each park.
    • The State governments will provide the land, be part of the SPV, and give the required clearances.
    • The Central government will disburse Development Capital Fund of ₹500 crore in two tranches for each of the seven facilities.
    • This is for the creation of core and support infrastructure.
    • It will also give a Competitive Incentive Support of ₹300 crore per park to be provided to the manufacturing units.
  • Nodal Ministry: Ministry of Textiles
Hence both statements are correct.
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With reference to the Mega Textile Park, consider the following statements: It is under PM Mega Integrated Textile Regions and Apparel (PM MITRA) scheme. A Special Purpose Vehicle owned by the Centre and State Government will be set up for each park which will oversee the implementation of the project.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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