New Delhi, Feb 22 (KNN) Commenting over the dormant status of the Credit Linked Capital Subsidy Scheme (CLCSS), Small Industries Development Bank of India (SIDBI) CMD Mohammed Mustafa told KNN that the scheme for Micro, Small and Medium Enterprises (MSMEs) is in continuation.

Talking to KNN, Suresh Jain, an MSME Entrepreneur informed that the scheme has been dormant 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.

Earlier 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.
He however said that due to some level of financial crunch the scheme was not as smooth as it was expected to be, but with things getting tuned up, the MSME Ministry is to continue the scheme.

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)