Subsidy Boost For SME

Union MSME Secretary, Arun Kumar Panda said National SC and ST Hub (NSSH) will provide professional support to SC and ST entrepreneurs to enhance capacity building in order to produce more.

NSSH is to help entrepreneurs to achieve the mandate of a minimum of 4 percent of total procurement from SC/ST owned SMEs under the Central Government Procurement Policy for Micro and Small Enterprises.

As Odisha has sizable population of ST and SC, the Special Credit Link Capital Subsidy Scheme (SCLCSS) for Micro, Small and Medium Enterprises (MSME) will help the entrepreneurs in the State, said Dr.Panda

SCLASS is to boost their access to credit and will also provide 25 percent subsidy to SC/ST entrepreneurs, he said.

ST/SC MSEs will get 25 percent subsidy on credit of up to Rs 1 crore for purchasing plant and machinery with an aim to facilitate technology up-gradation among them.

Even as there is a subsidy of 15 per cent up to a loan of Rs 1 crore for technology up-gradation in SCLCSS, we are also offering a 10 per cent extra subsidy that will be given to SC/ST entrepreneurs,” Dr. Panda said.

Under the Standup India scheme, the Union Government has Special Credit Linked Capital Subsidy Scheme for micro and small enterprises under the National SC/ST Hub that offers 25 per cent subsidy to SC/ST units for buying plant and machinery.

“Out of the 25 per cent, 15 per cent is given by DC MSME and 10 per cent by the SC/ST Hub. However, there has hardly been any disbursement to SC/ST entrepreneurs because of lack of credit demand from such SMEs that have been using rudimentary technologies to do business based in non-industrialized areas,” said Dr. Panda.

The Union Secretary said that a number of initiatives have been taken under NSSH, which include Special Marketing Assistance Scheme (SMAS), Special Subsidy for Single Point Registration Scheme (SPRS), Reimbursement of Membership Fee of Various Export Promotion Councils.

He said skill development programs are being organized and capacity building is encouraged throughout the country.

Reimbursement of testing fees charged by NABL and BIS Accredited Laboratory has also been allowed by NSSH.

These programs for SC/ST MSE are needed to be encouraged in the State, which will go a long way in helping the entrepreneurs belonging to these groups, said Dr. Panda, while interacting with the State Government officials.


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