Chennai, May 12 (KNN) Tamil Nadu Chief Minister MK Stalin has announced a slew of measures to help Micro, Small and Medium Enterprises (MSMEs) to survive COVID-19 induced lockdown in the state.

Reportedly, the new state Chief Minister Stalin allocated Rs 280 crore towards Investment Subsidy for MSMEs during the current financial year. Of Rs 280, Rs 168 crore which is 60 per cent will be released immediately to all eligible MSME sector that are yet to get capital subsidy.

He also announced that 1 Lakh employees in SIDCO complexes and MSME sector who are above the age of 45 will get free COVID-19 vaccination and 5 per cent interest subsidy received under CGTMSE and Technology Upgradation Scheme will be disbursed to MSME units.

The Minister also extended the deadlines such as:  Payment of Mortgage of Deposit registration fee up to March 31 is being extended till December 2021; All legal licenses required for MSME industries from pollution control board, fire and rescue services, labour, etc., which are scheduled to expire between May to September 2021 will be extended till December 2021;   Exemption for the norm that sales proceeds should be increased by 25 per cent for expanding MSME sector, which has been extended till March 31, will be extended till December 31, 2021 and Deadline for payment of price of SIDCO plots, instalments, and the rent for factories will be extended by six more months.

He further said that the deadline for payment of professional tax by employees of big and small industries will be extended by three more months.