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Issue of re-defining MSMEs raised in Parliament

Updated: Jul 16, 2014 04:31:42pm
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New Delhi, Jul 16 (KNN) With the issue of revisiting the definition of MSMEs often being raised these days, Lok Sabha MP from Guntur, Jayadev Galla asked about the efforts being made by the MSME Ministry to increase the investment limit for the micro, small and medium enterprises (MSMEs), in the Parliament today.

“There have been demands from MSME to re-visit the definition of MSME. They are demanding to increase the investment cap in plant and machinery.

“So, I would like to know from the Minister (MSME Minister, Kalraj Mishra) as to what efforts he is making to increase the investment limit to Rs 1.5 crore for micro, Rs 25 crore for small and Rs 50 crore for medium enterprises?” Galla asked.

The MP also asked about the steps MSME Ministry is taking to increasing the upfront capital subsidy to facilitate technology upgradation from the present ceiling limit of 15 per cent of capital subsidy or Rs 15 lakhs, whichever is less?

In his reply, MSME Minister Kalraj Mishra said that the Finance Minister Arun Jaitley has tried to redefine the MSMEs in the Budget and has also made a committee to increase the capital limit.”

The committee consists of representatives of the Ministries of MSME, Finance and Reserve Bank of India which will look into the needs from time to time, he added.
He also emphasised that efforts are being made to create more employment in the sector along with encouraging the entrepreneurs.

Mishra today informed the Parliament that the Government has launched Technology Centre Systems Programme by establishing 15 new Technology Centres and upgrading the existing one to expand the network for providing better support to MSMEs.

He said that the objective of the programme is to facilitate improved access to manufacturing technologies, availability of skilled manpower and provision of technical advisory services for MSMEs. (KNN/SD)

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