Ease of Doing Business for MSMEs: Days after asserting modifications to the Prime Minister’s Employment Generation scheme (PMEGP), the federal government on Thursday stated it has authorised new pointers for the scheme Promotion of MSMEs in North Eastern Region (NER) and Sikkim. The revised scheme might be carried out throughout fifteenth Finance Commission Cycle (FY22-FY26 to supply monetary help for enhancing the productiveness, competitiveness and capability constructing of MSMEs based mostly within the NER and Sikkim. The present pointers of the scheme had been authorised in 2019.
Under the brand new pointers, the MSME Ministry has enhanced the higher restrict of economic help for varied elements of the scheme. For occasion, most monetary help to state governments for organising new and modernizing present Mini Technology Centres has been elevated from Rs 10 crore to Rs 13.50 crore as 90 per cent of the undertaking price. Projects for creation of frequent amenities to complement manufacturing, testing, packaging, R&D, product and course of improvements and coaching for pure sources resembling fruits, spices, agriculture, forestry, sericulture and bamboo and so forth. out there in NER and Sikkim could be given precedence, the ministry stated.
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Likewise, monetary help for growth of recent and present industrial estates, flatted manufacturing unit complexes has been elevated to Rs 9 crore for brand new industrial estates and Rs 13.50 crore for present ones. Earlier, the higher restrict was Rs 8 crore for each new and present estates. In phrases of share, the share if help has been enhanced to 90 per cent of the undertaking price from 80 per cent in earlier pointers. However, the utmost undertaking price for calculation of help ought to be Rs 15 crore for brand new industrial property and Rs 10 crore for present property within the revised pointers.
Moreover, the scheme can also take into account initiatives for creation of frequent companies resembling kitchen, bakery, laundry and dry cleansing, refrigeration and chilly storage, IT infra, and so forth., in a cluster of house stays underneath the revised pointers. “There has to be linkages of projects with local MSEs. The financial assistance of central government will be 90 per cent for projects with maximum assistance of Rs 4.50 crore,” the ministry added.
Source: www.financialexpress.com”