PUBLIC SECTOR UNDERTAKINGS - Ministry of Textiles
PUBLIC SECTOR UNDERTAKINGS - Ministry of Textiles
PUBLIC SECTOR UNDERTAKINGS - Ministry of Textiles
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MINISTRY OF TEXTILESsticks from one stick making machine hasbeen produced and training is beingimparted to 12 craftsmen <strong>of</strong> Barpeta andKamrup districts <strong>of</strong> Assam with whom it isproposed to have production tie ups at a laterstage.The authorized share capital <strong>of</strong> theCorporation is Rs. 2 Crores which is fully paidup and subscribed by the Government <strong>of</strong>India. The Corporation has submitted aproposal to enhance the share capital toRs.15 Crores to accommodate enhancedequity capital after the conversion <strong>of</strong>outstanding loans/ interest into equity, grantor write <strong>of</strong>f proposal under the capitalrestructuring plan submitted to Government<strong>of</strong> India. The Corporation has proposed toraise share capital from Rs. 2 Crores to Rs.10 crores and convert the entire Governmentloans into grant-in-aid. Consultancy work onthe restructuring <strong>of</strong> NEHHDC is also in goodprogress.Performance:The detailed financial performance overa period <strong>of</strong> five years from 1996-97 to2000-2001 is given in table 12.1:The net loss position is due to thefollowing:a) Increased overheads particularly insalaries on account <strong>of</strong> revision <strong>of</strong> payscale.b) Huge 'Idle works force <strong>of</strong> dye-house.c) Discontinuation <strong>of</strong> promotional anddevelopment reimbursement schemes.(The Corporation has been shifted underthe administrative charge <strong>of</strong> Deptt. forDivision <strong>of</strong> NER.)9. CENTRAL COTTAGE INDUSTRIESCORPORATION O INDIA (CCIC),NEW DELHI:The Central Cottage Industries Emporiumwas established in Delhi in the year 1952under the Management <strong>of</strong> the Indian CooperativeUnion and was later on taken overby the Central Cottage Industries Associationin 1964. The Central Cottage IndustriesCorporation <strong>of</strong> India was incorporated in4.2.1976 as a wholly owned subsidiary <strong>of</strong> theHandicrafts and handicrafts and HandloomsExport Corporation <strong>of</strong> India Ltd. However,with effect from 27.3.1991, CCIC hasceased to be a subsidiary <strong>of</strong> HHEC <strong>of</strong> IndiaLtd. and has been brought under theadministrative control <strong>of</strong> the <strong>Ministry</strong> <strong>of</strong><strong>Textiles</strong>.The main objective <strong>of</strong> the CCIC is toact as dealer, exporter, Manufacturer andagent <strong>of</strong> Indian quality handicrafts andHandlooms and to develop Markets forthese products in India and abroad.However, it also engages itself in exportTable No. 12.1(Rs. in lakhs)1996-1997 1997-1998 1998-1999 1999-2000 2000-2001Turnover 589.87 325.54 3000.70 466.48 551.59Gross Pr<strong>of</strong>it 136.07 89.39 84.07 117.49 148.37Total Loss 61.93 139.23 140.86 165.00 169.96132
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