Tamil Nadu Govt to provide Rs 25 lakh subsidy to MSMEs under liquidity crisis


Tamil Nadu Govt to provide Rs 25 lakh subsidy to MSMEs under liquidity crisis

COVID – 19 pandemic has made negative impact on Indian economy particularly on Micro, Small and Medium Enterprises. Due to the nationwide lockdown Micro, Small and Medium Enterprises are affected in various stages. To mitigate this crisis the Government of Tamil Nadu has formed an expert committee to formulate guidelines and suitable actions. Based on the recommendation of this committee the Government has announced a new scheme called COVID Assistance and Relief to Entrepreneur – CARE for the benefit of the entrepreneurs. This scheme has two parts. 

As per the Part – I the Individual, Proprietorship or Partnership Enterprises affected by the COVID – 19 pandemic can re-establish their old enterprise or their legal heirs can start a new enterprise. The maximum project cost may be Rs.5.00 Crores. These industries are eligible for 25% subject to a maximum of Rs.25.00 Lakhs subsidy on the value of Plant and Machinery. To get this assistance maximum age limit is 55 years and minimum education qualification is 12th pass. 

As per the Part – II existing Micro, Small and Medium Enterprises affected by COVID – 19 economic environment in 2021 and 2022 taken up technology upgradation / modernization of the existing activities by adding additional machineries and equipments are eligible for 25% on the value of Plant and Machinery subject to a maximum of Rs.25.00 Lakhs.

Hence, the District Collector invites the interested and eligible entrepreneurs to utilize the above scheme. For further details you can approach the District Industries Centre, Five Roads, Salem. Phone No. 0427 – 2448505, 2447878.

 

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