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04/05/2023 12:55pm

BJP promises MSMEs Rs 1 cr collateral free loans in Karnataka

image BJP promises MSMEs Rs 1 cr collateral free loans in Karnataka

Bengaluru, May 4 (KNN) Ahead of the Karnataka assembly elections, the Bharatiya Janata Party’s (BJP) in its election manifesto has promised to launch a state-level Credit Guarantee Trust for MSMEs to give collateral-free loans up to Rs 1 crore to small businesses in the state.

The political party has released its manifesto for the upcoming Karnataka assembly elections with 103 promises including 16 top promises around food, housing, education, health, etc., also has sops for the state’s small and medium enterprises (SMEs).


If it comes back to power in Karnataka, it has promised to create a plug-and-play environment for MSMEs to avail workspace, business services, and logistical support at a nominal rent in every district.

To address the issue of delayed payments to businesses working with the government as contractors, the manifesto said that it will ensure timely payment of bills to such government contractors by depositing money in an escrow account upon issuance of work orders.

It would be released after certification by a Quality Control Committee.  

The party also promised to launch a ‘Samanvaya Yojane’ or scheme to drive collaborations between the state’s small and medium enterprises and industrial training institutes focusing on employment for young professionals. 

For women-led enterprises, the party said it will establish industrial clusters in every district with a dedicated revolving fund of Rs 500 crore as viability gap funding for enterprises based in the clusters.  (KNN Bureau)


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