Chennai, April 21 (KNN) The Tamil Nadu Government has announced a maximum subsidy of Rs 25 lakh to support MSMEs facing difficulty in undertaking technology upgradation due to liquidity crisis. 

Announcing the new scheme, Tamil Nadu Minister for MSMEs and Rural Industries T.M. Anbarasan told the state legislative assembly that the COVID Assistance and Relief to Entrepreneurs” (CARE) will be implemented for a year with an allocation of Rs 50 crore.

He informed that Chief Minister Stalin has examined the report submitted by the Sundaradevan committee, which was formed to look into the challenges faced by the MSME sector in Tamil Nadu.

CM Stalin has directed to take appropriate action, he said. 

After being re-elected, DMK government decided to study and suggest measures to help revive the MSME sector for which it formed a thirteen-member committee, headed by retired IAS officer Sundaradevan.

The MSME Minister also announced that the target under the Tamil Nadu Start-up Seed Grant Fund (TANSEED) programme would be doubled from 50 to 100 beneficiaries in a year. (KNN Bureau)