CARE-COVID relief package for MSMEs in Krishnagiri

COVID Assistance and Relief to the Entrepreneurs (CARE) of Micro, Small and Medium Enterprises has been opened in the district.  The CARE Scheme was unveiled by the State government to provide relief to MSMEs hit by the COVID-19 pandemic.

Under the Part I of the assistance, the individual proprietorship or partnership enterprises affected by the COVID-19 pandemic can reestablish their old enterprise or their legal heirs can start a new enterprise. The maximum project cost may be ₹5 crore. These industries are eligible for 25% subsidy subject to a maximum of ₹25 lakh on the value of plant and machinery. In order to avail this assistance, the MSME proprietor shall not exceed 55 years of age and possess a minimum qualification of 12 th pass.

Part II of the assistance under CARE envisions the existing Micro, Small and Medium enterprises affected by COVID-19 in 2021 and 2022 may take up technology upgradation, or modernisation of existing activities by adding additional machinery and equipment at a subsidy. The subsidy envisions 25% of the value of plant and machinery or maximum of ₹25 lakh.

According to Collector V. Jayachandra Bhanu Reddy, an expert committee was formed to study the impact of COVID-19 on MSMEs. Based on the expert committee’s report, the State government had unveiled the plan for MSMEs for COVID Assistance and Relief to the Entrepreneurs.

The Collector has invited eligible entrepreneurs to avail themselves of the scheme. For details, contact the District Industries Centre on 04343-2355567.

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Printable version | Aug 8, 2022 7:58:30 pm |