New central scheme guidelines to promote MSMEs in North East

New Delhi, June 3 (KNN) With a vision to enhance the productivity and capacity building of MSMEs in the North East and Sikkim, the central government has approved the new guidelines of Central Sector Scheme “Promotion of MSMEs in North Eastern Region and Sikkim”.

This scheme will be implemented during the 15th Finance Commission Cycle (2021-22 to 2025-26).

It will enable the state governments to set up new and modernise the existing Mini Technology Centres.

Projects for creation of common facilities to supplement manufacturing, testing, packaging, R&D, product and process innovations and training for natural resources such as fruits, spices, agriculture, forestry, sericulture and bamboo etc. available in NER and Sikkim would be given priority. The total cost of the project will be more than Rs 15 crore.

The central government through this scheme also aims to provide financial assistance for the development of new and existing industrial estates, flatted factory complexes.

For the development of new projects the total cost has been set to Rs 15 crore whereas Rs10 crore for development of existing industrial estate, the ministry added.

Likewise, the scheme may also consider projects for creation of common services such as kitchen, bakery, laundry and dry cleaning, refrigeration and cold storage, IT infra, etc., in a cluster of home stays under the revised guidelines.

“There has to be linkages of projects with local MSEs. The financial assistance of central government will be 90 per cent for projects with maximum assistance of Rs 4.50 crore,” said the ministry.  (KNN Bureau)