26 Sep Financial Support Scheme for Cooperatives in Handicrafts and Handloom Department By : Handicrafts Date : 26-09-2020 Formulation of Handicrafts Co-operatives societies is a follow up activity being initiated by the department of Handicrafts in respect of Handicrafts training programmes. Under this dispensation of the department, the trainees after completion of their trainings are mobilized to form Co-operatives Societies in order to earn their livelihood. The department was providing managerial subsidy of Rs. 19104/- to registered Handicrafts Co-operative Societies so as to strengthen their financial base for running their business successfully. However vide Government order No. 156-IND of 2020, dated 01.10.2020 'Managerial Subsidy Scheme' in the erstwhile Handicrafts Department has been replaced by 'Financial Support Scheme for Cooperatives in Handicrafts & Handloom Department.' The Scheme has been extended both for the Handloom and Handicrafts sector. Under the scheme the new cooperative registered under the ambit J&K Self-Reliant Cooperative Act, 1999 shall be eligible for financial assistance of Rs.1.00 lakh, to be paid in two yearly equal instalment of Rs. 0.50 lakh each.