CLCSS scheme for MSMEs is in continuation, MSME Secretary reiterates
Updated: Feb 27, 2018 08:20:53am
CLCSS scheme for MSMEs is in continuation, MSME Secretary reiterates
New Delhi, Feb 27 (KNN) Responding to the report surfacing regarding the dormant status of the Credit Linked Capital Subsidy Scheme (CLCSS), MSME Secretary Arun Kumar Panda told KNN that the scheme for Micro, Small and Medium Enterprises (MSMEs) is in continuation.
Panda said that the scheme is not discontinued and is being offered to the MSMEs.
“Under the national manufacturing competitiveness programme during 2017-18, Rs 506 crores have been allocated and next year this allocation will increase to Rs 1,006 crores, which is almost double of the previous year. There would also be efforts to handle unmet liabilities”, the secretary added.
Earlier talking to KNN, Suresh Jain, an MSME Entrepreneur informed that the scheme has been hibernating since quite long.
“Despite repeated assurance both by the MSME Ministry as well as other officials of the department, the banks say that they are not aware whether or not the scheme is still in continuation”, Jain said.
Explaining further Jain said that their unit have applied for the subsidy with the nodal bank time and again with the required forms and documents.
“Each time we approach bank, we are told that there is no proper information in this regard”, he added.
The scheme had been popular among the MSMEs and have yielded positive results in the past helping the units adopt new technology and increase their production.
Commenting on similar lines, SIDBI CMD Mohammed Mustafa as well as Ram Mohan Mishra, Additional Secretary and Development Commissioner Ministry of MSME reiterated that the Credit Linked Capital Subsidy Scheme (CLCSS) of the Government to encourage technology upgradation of Micro, Small and Medium Enterprises (MSMEs) will continue to be implemented.
Under the scheme eligible MSMEs are provided subsidy of up to Rs. 15 lakhs for procuring state of the art technology and also to improve energy efficiency and minimise environmental impacts. (KNN/DA)