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Package for small scale industries announced

03
Mar '07
NEW DELHI:

Centre announced a package on Friday, to promote micro and small enterprises and scope of government help required to enhance competitiveness of micro and small enterprises in service/business sector.

Making a statement in the Rajya Sabha, Minister for Small Scale Industries and Agro and Rural Industries Mahavir Prasad said, the package fulfilled the requirement defined in National Common Minimum Programme to pomote employment-oriented economic growth.

To assist small and medium enterprises in technology development, energy conservation and pollution mitigation, a technological mission would be established.

A new scheme would be formulated to provide financial assistance to select management/business schools and technical institutes to conduct tailor-made courses. Five select universities/colleges would be financed to run 1,200 entrepreneurial clubs, Prasad said.

Existing guidelines of Small Industries Cluster Development Programme--renamed Micro and Small Enterprises Cluster Development, would be reviewed to accelerate development of clusters under the package.

The Small Industries Development Bank of India (SIDBI) would scale up and strengthen its credit operations for micro enterprises and cover 50 lakh additional beneficiaries over five years beginning 2006-07.

The Government would provide grant to the SIDBI to enable it to create a Risk Capital Fund, as a pilot scheme, in 2006-07 to provide demand-based loans to micro enterprises.


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