Tamil Nadu government takes measure to boost MSME

Tamil Nadu government is set to create land banks for medium and small engineering enterprises (MSMEs) in Tiruvallur and Kancheepuram districts. The state government has launched support schemes like Business Facilitation Act and single-window clearance to support the MSME sector and to facilitate ease of doing business in the State. It has set up a single window portal 

The government have already approved 80 out of 125 applications filed worth ₹240.35 crore of investment. Now, it has also increased the maximum eligibility of the project cost under the New Entrepreneur-cum-Enterprise Development Scheme (NEEDS), to ₹5 crore from ₹1 crore.

Some specific measures done by the state government include 25 per cent mandatory government procurement from MSMEs, bills discounting facilities, innovation voucher scheme for start-ups, plot price rationalisation under SIDCO area besides frequent representations to RBI to increase the Non-Performing Assets (NPA) recognition time from 180 days for MSMEs.

Be the first to comment

Leave a Reply

Your email address will not be published.