Ahmedabad, Jul 14 (KNN)  In keeping with the budgetary provision, the government is planning to set up district level incubation centres to assist entrepreneurs, thereby providing a much needed boost to the micro, small and medium enterprises sector.

This was stated by Secretary, MSME Minister, Madhav Lal, while addressing a meeting organised by the Gujarat Chamber of Commerce and Industries (GCCI) here recently.

As per the Union Budget 2014-15, “A nationwide District level Incubation and Accelerator Programme to be taken up for incubation of new ideas and necessary support for accelerating entrepreneurship.”

Reiterating this, MSME Secretary said that the incubation centres would be facilities that will show entrepreneurs the ropes to start new and innovative business units.

He also referred to yet another budgetary provision about the “Committee to examine the financial architecture for MSME Sector, remove bottlenecks and create new rules and structures to be set up and give concrete suggestions in three months.”

In this regard, Madhav Lal said that plans were in the pipeline over the next few months to discuss pertinent issues with stakeholders to carry forward the matter.

The Union Budget presented in Parliament last week featured a slew of measures for the MSME sector which included ‘Fund of Funds with a corpus of 10000 crore rupees for providing equity through venture capital funds, quasi equity, soft loans and other risk capital specially to encourage new startups by youth to be set up.’

Madhav Lal also referred to their plans to launch virtual clusters to provide guidance to MSMEs.  (KNN/ES)