Union Defence Minister Nirmala Sitharaman said here on Friday that she was confident of Coimbatore benefiting from the announcements made by Prime Minister Narendra Modi for Micro, Small, and Medium-scale Enterprises (MSMEs).
As many as 182 applications were received from Coimbatore by banks for loans within a few minutes of the Prime Minister announcing the 59-minute loan approval scheme and in principle approval given for nearly ₹40 crore, she told presspersons.
The Minister was in Coimbatore to take part in an outreach programme for MSMEs organised by the District Lead Bank on Friday. The Prime Minister’s announcements for MSMEs were telecast at the meeting. Similar programmes were held in 100 centres across the country. In Tamil Nadu, it was held in six centres, including Coimbatore.
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The MSMEs could submit their grievances and seek relief through the e-samadhan system announced by the Prime Minister on Friday. The mandatory procurement by Public Sector Undertakings from MSMEs had been increased to 25 % from 20 %. Of this, there was 3 % reservation for units run by women, she pointed out. These announcements covered all the micro, small, and medium industries.
The 12 announcements made under four categories by the Prime Minister addressed the holistic needs of the MSMEs in detail, the Minister told the industries earlier.
On the job working engineering units’ demand for reduction of GST, she told presspersons the representations had gone to the GST council and the decision should be taken by the council. Minister for Municipal Administration S.P. Velumani said that the State’s Finance Minister would take up the issue at the GST council again.
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