MADITSSIA hails schemes for MSMEs


Madurai District Tiny and Small Scale Industries Association (MADITSSIA) welcomed the schemes announced in the budget, presented in the Tamil Nadu Legislative Assembly on Friday, to leverage the growth of micro small and medium industries in the State.

MADITSSIA President B. Muruganantham said that the increase of interest subvention from 2% to 5% for MSMEs will benefit the sector to a great extent.

“In the budget, ₹100 crore has been allocated for the development of new entrepreneurs. This will also definitely help in the growth of micro industries and create more number of young entrepreneurs,” he said.

He welcomed the announcement that the registration charges for MSMEs will be reduced from 1% to 0.25%. “Though we have been stressing to repeal registration charges, this announcement will provide some relief to the businesses,” he said.

But, other demands, including providing relief from ‘inspector raj’ and providing subsidies for imports, had not been addressed, he said.

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Printable version | Feb 22, 2020 1:13:47 PM |

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