Gujarat govt announces cash & incentives for MSMEs
Updated: Jan 06, 2015 12:49:38pm
Gandhinagar, Jan 6 (KNN) Ahead of Vibrant Gujarat summit, Chief Minister Anandiben Patel on Monday announced details of the special incentives for micro, small and medium enterprises (MSMEs) under its new industrial policy in the state, according to a media report.
For the first time, the state government has decided to give cash assistance on loan to the industrialists who are establishing new MSME units. Further, it has increased the interest assistance to the units.
Under the incentive scheme, MSME sector will be provided with cash and assistance on term loan of banks. Cash assistance on term loan of banks will be for a maximum Rs 15 lakh in municipal corporation areas and Rs 25 lakh in other areas.
Cash assistance and interest assistance will also be given to the existing industrialists for expanding, diversification and modernisation to the industry.
The state Finance and Energy Minister Saurabhbhai Patel said the given incentives will expedite the developmental march of the MSMEs. It will also simplify and encourage the setting up of new MSMEs in the state.
Of the total MSMEs settled in Gujarat, around 176,060 MSME are registered in the manufacturing sector with an estimated investment of Rs 71,105 crore and providing employment to nearly 18-lakh people. The new policy will give further impetus to them, he said. (KNN Bureau)
For the first time, the state government has decided to give cash assistance on loan to the industrialists who are establishing new MSME units. Further, it has increased the interest assistance to the units.
Under the incentive scheme, MSME sector will be provided with cash and assistance on term loan of banks. Cash assistance on term loan of banks will be for a maximum Rs 15 lakh in municipal corporation areas and Rs 25 lakh in other areas.
Cash assistance and interest assistance will also be given to the existing industrialists for expanding, diversification and modernisation to the industry.
The state Finance and Energy Minister Saurabhbhai Patel said the given incentives will expedite the developmental march of the MSMEs. It will also simplify and encourage the setting up of new MSMEs in the state.
Of the total MSMEs settled in Gujarat, around 176,060 MSME are registered in the manufacturing sector with an estimated investment of Rs 71,105 crore and providing employment to nearly 18-lakh people. The new policy will give further impetus to them, he said. (KNN Bureau)
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