Lucknow, Nov 21 (KNN) To keep up- with Uttar Pradesh’s industrial growth and development, its new MSME policy focuses on entrepreneurs of Purvanchal and Bundelkhand and provides them with special incentives.

It has been clarified in the MSME policy that entrepreneurs setting up micro units up to Rs 4 crore in Bundelkhand and Purvanchal regions will get 25 per cent subsidy.

Chief Minister Yogi Adityanath has special expectations from MSME industries to achieve the target of USD 1 trillion economy. 

Alleviating the burden of interest, the state government has ensured that capital subsidy up to 25 per cent is available.

At the same time, this limit will be 20 per cent for small and 15 percent for medium.

Micro industries will get 20 per cent subsidy for Madhyanchal and Paschimanchal, 15 per cent for small and 10 percent for medium. This capital subsidy will be on the purchase of machinery.

Along with this, two per cent additional subsidy will be provided for SC-ST and women entrepreneurs. Women entrepreneurs will get the benefit of up to 100 per cent exemption.

Up to 50 per cent exemption on interest and up to 100 per cent exemption on stamp duty under the new policy, the entrepreneur setting up a micro unit will get 50 percent subsidy on interest on the purchase of machinery.

It will be payable for five years and its limit will be Rs 25 lakh.

SC-ST or women will get 60 percent subsidy on interest. Purvanchal-Bundelkhand will also get priority in exemption on stamp duty. They will get up to 100 per cent exemption of stamp duty on the purchase of land.

In the areas of Madhyanchal and Paschimanchal, this exemption will be up to 75 percent and for Gautam Buddha Nagar and Ghaziabad of Paschimanchal, this exemption will be up to 50 per cent.

At the same time, women entrepreneurs will get the benefit of up to 100 per cent exemption. You can get subsidy up to Rs 14 crore.

UP MSME Policy: https://invest.up.gov.in/wp-content/uploads/2022/10/MSME-Policy-2022_V-1.pdf.

(KNN Bureau)