Odisha Chief Minister Naveen Patnaik on Tuesday authorised a stimulus package deal of ₹289.42 crore for MSMEs which have been going through stiff challenges amid the Covid-19 pandemic, official sources mentioned.
The package deal consists of help measures reminiscent of curiosity subvention, top-up subsidy, reimbursement of state GST and waiver of annual institutional upkeep costs.
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The initiative will assist entrepreneurs, principally ladies and people from the weaker sections, to beat surprising challenges that got here together with the pandemic, a senior official mentioned.
“In ECLGS (Emergency Credit score Line Assure Scheme), 1,70,000 MSME items will reap the advantage of curiosity subvention. A sum of ₹108.29 crore is being launched to assist 40 per cent of all women-run MSMEs,” the official mentioned.
In accordance with the just lately amended industrial coverage decision (IPR) authorised by the state cupboard, as many as 175 enterprises shall be eligible for reimbursement of state GST for the interval July 1, 2017 to March 31, 2020.
The waiver of annual institutional upkeep cost, which is payable by MSMEs and involves round ₹5.83 crore yearly, shall be borne by Odisha Industrial Infrastructure Improvement Company, the official mentioned.
Together with that, Covid-19 help package deal (CAP), launched by Panchayati Raj and Consuming Water Division, may even present aid to nano and micro enterprises, he added.
This story has been revealed from a wire company feed with out modifications to the textual content.