Syllabus Section: Economy
 

Why in News?
50 artisan-based SFURTI clusters, spread over 18 States were recently inaugurated.
 

Highlights:
• Artisans shall be supported in the traditional segments of muslin, khadi, coir, handlooms, woodcraft, pottery, carpet weaving, agro-processing, etc.
• The Center is implementing the  Scheme of Fund for Regeneration of Traditional Industries (SFURTI)  to organize traditional industries and artisans into clusters to make them competitive and increase their income.
 

• SFURTI clusters are of two types:
o Regular Cluster (500 artisans) with Government assistance of up to Rs.2.5 crore 
o Major Cluster (more than 500 artisans) with Government assistance up to Rs.5 crore
 

• The artisans are organized into SPVs which can be:
o a Society registered under Societies (Registration) Act, 1860,
o a Co-operative Society under an appropriate statute,
o a Producer Company under Section 465 (1) of Companies Act, 2013 (18 of 2013),
o a Section 8 Company under the Companies Act, 2013 (18 of 2013) or (v) a Trust.
 

Source: News on AIR