The Indian government has prepared a draft scheme titled “Scheme of Fund for Regeneration of Traditional Industries” (SFURTI) covering traditional industries such as leather, handloom, handicrafts, sericulture, pottery, etc., in keeping with the declaration in the National Common Minimum Programme and announcement in the July 2004 Budget Speech of the Finance Minister.

The draft scheme which is scheduled to commence in 2005-06 is based on a ‘cluster approach’. A sum of Rs.300,000,000 ($6,857,926.79) has been proposed in the country’s Budget Estimates of 2005-06 for this scheme.

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