Karnataka government gives 6% interest subsidy to state MSMEs
Updated: Jun 11, 2015 04:31:33pm
Mysore, Jun 11 (KNN) Micro and small scale industries of Karnataka will now get interest subsidy of 6 per cent for their loan availed from Karnataka State Financial Corporation (KSFC). This was stated in a state government order issued on June 10, 2015.
“First generation entrepreneurs can avail maximum loan of Rs 70 Lakhs with 6 per cent interest subsidy through KSFC along with applicable State Govt. Investment Subsidy,” said the Mysore Industries Association.
MIA President, P Vishwanath and General Secretary, Suresh Kumar Jain was all of praises for state chief minister Siddaramaiah for fulfilling his 2014-15 Budget Commitment of Providing Loan.
Industry body MIA has been pursuing the government to provide loan for the small scale industry at 6 per cent interest rate which is given to SC/ST entrepreneurs at 4 per cent.
“SSI investment limit is Rs.5 Crore as per MSMED act. But Karnataka Government limited this interest subsidy facility for the projects upto Rs1 crore and in place of interest rate of 6 per cent it has been made interest subsidy of 6 per cent resulting SSI to pay 8 per cent interest,” MIA said.
Mysore industries have urged the SSI Minister Sathish Jarkhiholi to direct the Government to enhance the limit of investment to 5 crores and fix 6 per cent interest rate as committed in the Budget. (KNN/ST)
“First generation entrepreneurs can avail maximum loan of Rs 70 Lakhs with 6 per cent interest subsidy through KSFC along with applicable State Govt. Investment Subsidy,” said the Mysore Industries Association.
MIA President, P Vishwanath and General Secretary, Suresh Kumar Jain was all of praises for state chief minister Siddaramaiah for fulfilling his 2014-15 Budget Commitment of Providing Loan.
Industry body MIA has been pursuing the government to provide loan for the small scale industry at 6 per cent interest rate which is given to SC/ST entrepreneurs at 4 per cent.
“SSI investment limit is Rs.5 Crore as per MSMED act. But Karnataka Government limited this interest subsidy facility for the projects upto Rs1 crore and in place of interest rate of 6 per cent it has been made interest subsidy of 6 per cent resulting SSI to pay 8 per cent interest,” MIA said.
Mysore industries have urged the SSI Minister Sathish Jarkhiholi to direct the Government to enhance the limit of investment to 5 crores and fix 6 per cent interest rate as committed in the Budget. (KNN/ST)
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