Haryana Commerce body calls for making capital subsidy scheme easier
Updated: Jul 22, 2013 06:11:19pm
Chandigarh, Jul 22 (KNN) The Haryana Chamber of Commerce and Industry has come up with various solutions to tackle the problems faced by small units including making credit linked capital subsidy scheme provided to small units for technology upgradation more efficient.
“Guidelines on credit linked capital subsidy scheme needs revision with reference to latest technology machinery items available in the market and also their cost, covering all the industrial activities, for which suggestion need to be taken from respective chambers and associations,” said the Karnal chapter of Haryana Chamber of Commerce and Industry.
It further said that machinery items that are certified as approved by the respective director and ministry of micro, small and medium enterprises should be allowed for admissible subsidy.
The capital subsidy scheme covers sectors such as bio-tech industry, common effluent treatment plant, poultry hatchery and cattle feed industry, leather and leather products including footwear and garments, information technology (hardware), forging and hand tools and mineral water bottle industry.
The trade body also raised the issue of making paper work for availing subsidy easier, as a lot of time is wasted in moving subsidy papers from Regional Office to Zonal Office, Nodal Office to SIDBI and then the ministry which results in huge delays resulting in high cost of interest which has to be borne by the entrepreneurs.
Batting for the entrepreneurs, the trade body said that at times SIDBI and ministry rejects the subsidy plea blaming the banks due to which the manufacturers have to suffer losses.
Further, urging for a better system for disseminating information it asked for more frequent interaction amongst entrepreneurs to boost the economy.
“Schemes need to be floated for registered chambers and associations having audited accounts and for willing to construct their own building for capacity building of the associations for financial assistance towards cost of building construction which will go a long way to give platform to disseminate information and interaction amongst entrepreneurs and boost the economy,” it said.
Moreover in Haryana the subsidies under the credit linked capital subsidy scheme are not cleared timely and in cases they are pending for more than a year.
The primary lending institutions in India for MSMEs are State Bank of India, State Bank of Mysore, Bank of Baroda, Canara Bank, Bank of Rajasthan and Catholic Syrian Bank.
It further called for review of the present scheme for capacity building, strengthening of database and advocacy for holding seminars, symposium and workshops by associations under ministry of MSME. (KNN/SK/ES)
“Guidelines on credit linked capital subsidy scheme needs revision with reference to latest technology machinery items available in the market and also their cost, covering all the industrial activities, for which suggestion need to be taken from respective chambers and associations,” said the Karnal chapter of Haryana Chamber of Commerce and Industry.
It further said that machinery items that are certified as approved by the respective director and ministry of micro, small and medium enterprises should be allowed for admissible subsidy.
The capital subsidy scheme covers sectors such as bio-tech industry, common effluent treatment plant, poultry hatchery and cattle feed industry, leather and leather products including footwear and garments, information technology (hardware), forging and hand tools and mineral water bottle industry.
The trade body also raised the issue of making paper work for availing subsidy easier, as a lot of time is wasted in moving subsidy papers from Regional Office to Zonal Office, Nodal Office to SIDBI and then the ministry which results in huge delays resulting in high cost of interest which has to be borne by the entrepreneurs.
Batting for the entrepreneurs, the trade body said that at times SIDBI and ministry rejects the subsidy plea blaming the banks due to which the manufacturers have to suffer losses.
Further, urging for a better system for disseminating information it asked for more frequent interaction amongst entrepreneurs to boost the economy.
“Schemes need to be floated for registered chambers and associations having audited accounts and for willing to construct their own building for capacity building of the associations for financial assistance towards cost of building construction which will go a long way to give platform to disseminate information and interaction amongst entrepreneurs and boost the economy,” it said.
Moreover in Haryana the subsidies under the credit linked capital subsidy scheme are not cleared timely and in cases they are pending for more than a year.
The primary lending institutions in India for MSMEs are State Bank of India, State Bank of Mysore, Bank of Baroda, Canara Bank, Bank of Rajasthan and Catholic Syrian Bank.
It further called for review of the present scheme for capacity building, strengthening of database and advocacy for holding seminars, symposium and workshops by associations under ministry of MSME. (KNN/SK/ES)
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