A Study on Satifactory Level of Powerloom Entrepreneurs in Utilizing Government Funds - a Case Study at Kangayam Taluk- Tirupur District-Tamilnadu-India

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European Journal of Economics, Finance and Administrative Sciences ISSN 1450-2275 Issue 33 (2011) © EuroJournals, Inc. 2011 http://www.eurojournals.com

A Study on Satifactory Level of Powerloom Entrepreneurs in Utilizing Government Funds - A Case Study at Kangayam Taluk- Tirupur District-Tamilnadu-India S. Chandrakumar Mangalam Assistant Professor, Department of Management Studies Anna University – Coimbatore Tel: 9865616158 E-mail: ckmaucbe@gmail.com G. Suresh Co-Authorassistant Professor, Faculty of Management EBET-Group of Institutions, Kangayam Tel: 9865386559 E-mail: priyasuresh1976@gmail.com Abstract The global market has become an overwhelming incentive for new investments and there occurred a veritable explosion of capacity in cotton based complexes, the most importantly in the Tamilnadu clusters. This has been much silent revolution: The phenomenal growth of the 1990s in cotton spinning in Tamilnadu has been the forefront in the Indian power loom industry. The state ranked third, only after Maharashtra and Gujarat as regards the number of textile manufacturing units in organized and decentralized sector of the textile industry. The power loom industry in Tamilnadu provides direct and indirect employment to over 7 lakh workers and is reputable for its power loom weaving. The state produces large volumes of power loom items that find a market in every nook and corner of the country and also caters the fabric needs of the export manufacturing units located in Delhi, Mumbai, Chennai, Bangalore and other centers. Further, the performance of the power loom sector in Tamilnadu presents a better picture as there is concentration of industrial enterprise specializing on various stages of textiles manufacturer, right from ginning of cotton to spinning and garmenting of the end product. Keeping the interest of the power loom industry as a whole, an effort has been made to explain briefly about the utilization of Government funds among Power loom entrepreneurs.

Keyterms: Powerloom entrepreneurs, Utilization of Government Funds, Economic profile of Powerloom entrepreneurs

1. Introduction
Rural Development has now come to occupy fairly an important place in the economic development of the country. Especially power loom industries are playing a major role in the development of Kangayam Taluk which is located western part of Tamilnadu. Powerloom industry provides direct and *This article was presented at the 4th North American Productivity Workshop, in Texas-USA organized by Rice University on June the 3rd-5th, 2010.

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European Journal of Economics, Finance And Administrative Sciences - Issue 33 (2011)

indirect employment opportunity in many ways. Hence, the Government of Tamilnadu and Central Government of India are announcing different funding schemes to the power loom entrepreneurs to uplift the rural poor. In this study an attempt has been made to evaluate the utilization of Government funds among power loom entrepreneurs in the study area. It also focuses on the main drawbacks encountered from different angles at various stages to the power loom entrepreneurs in their business. Against these backdrops it will be worth knowing to study the performance of Government funding schemes and the level of satisfaction at the potential entrepreneurs. Based on the above issues the following questions are raised: (i) Have the power loom entrepreneurs for whom government funding schemes is meant and to whom subsidy has been disbursed, been really benefited? and (ii) Whether the entrepreneurs properly utilized the government fund?

2. Review of Literature
Like all theories, the understanding of the theory of entrepreneurship depends upon a set of definition which provides a base for analytical study. Nevertheless, definition of entrepreneurship, as of many other concepts does not lead itself to uniformity. Many historians, economists, sociologists, psychologists and behavioral scientists have made attempts to...
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