Government support for SSIS

05 Mar '08

1 min read

Besides putting in place a framework to classify Micro, Small and Medium Enterprises to bring out the Micro, Small and Medium Enterprises (MSME) continuum under the MSME Development Act, 2006, the Government (in the Ministry of MSME) has initiated some steps to enable the Micro and Small Enterprises (MSEs) to grow vertically rather than exhibit the current pattern of horizontal growth.

These steps include, inter alia, (i) enabling MSEs to obtain 15% subsidy for adoption of 48 currently identified modern technologies by availing financial assistance of up to Rs 1 crore under the Credit Linked Capital Subsidy Scheme.

(ii) assistance for the upgradation of infrastructure in industrial clusters under the Micro and Small Enterprises Cluster Development Programme (MSE-CDP).

The Ministry of MSME has also announced the implementation of a 10 point initiative under the National Manufacturing Competitiveness Programme (NMCP) for enhancing the competitiveness of the manufacturing sector, particularly the SMEs. The implementation of this Programme is likely to assist in achievement of this objective as well.

This information was given by Shri Pawan Kumar Bansal, Minister of State for Finance in reply to a question raised by Shri Narendra Mohan in the Rajya Sabha.

Press Information Bureau Government of India

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