Haryana MSMEs to get 30% of CapEx for boiler conversion to cleaner fuels

New Delhi, Mar 9 (KNN) The Chief Minister of Haryana has announced that MSMEs will be provided with a grant assistance of up to 30 per cent of the capital expenditure for conversion of their boilers to cleaner fuels from diesel or coal.

The subject limit is Rs 15 lakh, he said while presenting the state budget on Tueday.

The Haryana government has also proposed to give MSMEs 50 per cent reimbursement on VAT collected on natural gas for two years.

Explaining the reason behind this move, CM Khattar said, “With the constant push faced by NCR industries to shift to cleaner fuels and natural gas, the government of Haryana recognises this change as it would increase the cost of production for industries affecting their competitiveness.”

“It has been proposed in the budget to provide 50 per cent reimbursement on VAT on natural gas (piped or compressed) for industries in the MSME sector for a period of two years to help them remain competitive on conversion to cleaner fuels,” he added.

He pressed on the need for investment in infrastructure towards cleaner fuels.

CM Khattar also announced the Laghu Udyamita Samarthan Nidhi scheme to give an impetus to entrepreneurship and small businesses.

Under this scheme individual or family-owned businesses will get interest subvention at the rate of 5 per cent on loans up to Rs 3 lakh, subject to a maximum of Rs 15,000 per month.

The Haryana government has further decided to provide freight subsidy for industrial exports to promote industrial exports and as per the demand from exporters. (KNN Bureau)