HP MSMEs hail introduction of self-certification system for upto 2 yrs

Shimla, June 7 (KNN) The Himachal Pradesh Government has introduced a system of self-certification for Micro Small and Medium Enterprises in the state.

Under this system, government has allowed entrepreneurs setting up micro, small and medium enterprises in the state to implement their projects through a system of self-certification for up to two years.

The move aims to liberate the MSMEs from the clutches of multiple formalities like clearances that are required at the time of initiating a project.

In addition, interest subsidy and financial aid for e-marketing, promotion, insurance and transit will be provided to them.

The Jai Ram Thakur government has also decided to ease the norms for purchase and leasing of land for industrial purposes with a view to make the process hassle free and reduce the time taken to set up projects.

Speaking with KNN India, the President of Baddi Barootiwala Nalagarh Industries Association, Shailesh Aggarwal said “We welcome this move as this will facilitate MSMEs in a big way and promote ease of doing business in state.”

Sharing the concerns of MSMEs, he asserted that availability of credit is the biggest problem that MSMEs face today and needs immediate attention of government. Even banks are reluctant to give loans to MSMEs, he added.