Scheme of Fund for Regeneration of Traditional Industries (SFURTI) was launched on 3 October 2005 by the central government.
This scheme was launched to make the traditional industries more competitive, productive, profitable and capable to provide sustainable employment.
The ministry of MSME proposed enhanced budget allocation during the 12th year plan for the promotion of this scheme in a bigger way with certain modification.
Khadi & Village Industries Commission (KVIC) has been allocated Rs 73 crore with a target to implement 79 members of Khadi & Village Industries clusters.
Objective of SFURTI
Scheme of Fund for Regeneration of Traditional Industries (SFURTI) has its important objectives to be implemented for the traditional industries.
- The main objective of this scheme is to develop the clusters of traditional industries in India.
- Another objective of this scheme is to provide innovative and traditional skills, advanced technology, market intelligence etc. for regeneration of traditional industries.
- It will also encourage the local stake holders to participate for the developmental initiatives and it will strengthen the local governance.
- This scheme will make the traditional industries more competitive, productive, more profitable and creation of sustainable employment for the rural areas people.
Who can Apply for this Scheme
The central government of India has set up a specific eligibility criteria for the beneficiaries that can apply.
- Non government organization, institutes of state and central government and institute of central government.
- Panchayati raj institutions and private sectors.
- Corporate and corporate responsibilities foundations with expertise to undertake the cluster development.
Central government has launched this scheme to provide the compensation to the coir industries which are set up in the rural areas.
The central government has allotted Rs 122 Lac for Khadi and Rs 87 Lac for the village under this scheme.
71 clusters have been given in principal approval by Schema Steering Committee and 32 DPR have been given final approval with assistance of Rs 65.87 crore out of which Rs 30.30 crore has been released.