The Congress government’s focus on micro, small and medium enterprises (MSME) in Rajasthan, in accordance with its promise made in the Assembly election manifesto, has opened up a new route to job creation.
Interest subsidy
A budgetary announcement for interest subsidy on MSME loans up to ₹10 crore is also set to promote the sector in a big way.
Industries & State Enterprises Minister Parsadi Lal said here on Saturday that the MSME (Facilitation of Establishment and Operation) Ordinance, 2019, which had taken the shape of law, allowed entrepreneurs to start their business by just filling a self-declaration form and exempted them from approval and inspection by various departments for three years.
Mr. Lal said while several States had evinced interest in the new measures, the youths in Rajasthan aspiring to establish business would get the much-needed support for their enterprises and create jobs for others. The laws on labour, safety and environment have to be complied with, but no verifications will be required.
Self-help groups
In his budget speech earlier this week, Chief Minister Ashok Gehlot had announced the launch of a new small industries promotion scheme giving interest subsidy on loans up to ₹10 crore, which will include self-help groups. A provision of ₹50 crore in 2019-20 and ₹250 crore during the next five years has been made under the scheme.
Mr. Lal said said the budgetary provision of ₹10 crore for a revolving fund for khadi industries for the next 10 years would also promote the sector in a big way.
The Minister said that new policies in the industrial sector would attract more investments to the State.
The aspiring entrepreneurs would be able to give jobs to others in the changed industrial scenario, he added.
