New Delhi, Feb 7 (KNN) For the financial year 2019-20, Andhra Pradesh Chief Minister Yanamala Ramakrishnudu proposed a sum of Rs 1000 crore for Micro Small and Medium Enterprises (MSMEs), while presenting the state budget in the assembly.

The Minister also proposed a sum of Rs 100 crore for revival of stressed MSMEs, Rs 400 crore for incentives to new MSMEs and Rs 500 crore for the development of MSME parks.

Ramakrishnudu said that MSMEs create around 10 times as many jobs as created by a unit of investment by large and mega enterprises. Therefore, the state government considers MSME sector as a key source of income generation as well as job creation.

He said “We created a competitive policy environment and also released Rs 1,816 crore worth incentives. We are also setting up MSME parks in each Assembly Constituency. We have taken up 31 parks, providing 7,246 plots.”

Besides, the minister proposed to allocate Rs 200 crore for feed and fodder development.

The Minister has proposed an expenditure of Rs 2,26,177. 53 crore as the budget.

During the budget speech, the Minister has announced Annadata Sukhibhava Scheme for farmers of the state. For this new scheme, Chandrababu Naidu government has provided Rs 5,000 crore. (KNN/YV)