ReSTART package will help rebuild industry sector: Minister

Beneficiaries term the initiative as a boon to entrepreneurs

Deputy CM K. Narayanaswamy and Panchayat Raj Minister P. Ramachandra Reddy at the launch of second phase of ‘ReSTART’, in Tirupati on Monday.

The ReSTART package launched by the government will not only bail out the MSMEs ailing under the impact of the lockdown, but also help rebuild the industry sector in the State, Deputy Chief Minister K. Narayanaswamy has said.

He, along with Panchayat Raj Minister P. Ramachandra Reddy and whip Chevireddy Bhaskar Reddy, accompanied some MSME unit owners whop spoke to Chief Minister Y.S. Jagan Mohan Reddy from the Sub-Collector’s office here through video link on Monday.

B. Suresh, owner of an MSME unit and a beneficiary of the ReSTART package, termed the initiative as ‘a boon to entrepreneurs and industrialists’.

“I run an MSME unit in Penumuru mandal of Chittoor district. I was stuck in operational hassles owing to the sluggish market and closure during the lockdown. The government support has come as a boon in this testing time. Incentives, allocation of corpus fund and marketing support will help bring the ailing MSMEs back on the track,” he told the Chief Minister.

Allocations

Mr. Narayanaswamy said 1,798 MSMEs in Chittoor district availed off the benefits worth ₹117.87 crore in the first phase of the ReSTART scheme, while ₹49 crore has been earmarked for 854 MSMEs in the second phase.

Mr. Ramachandra Reddy said that the industrial units deserved all support from the government.

Tirupati MP Balli Durgaprasad, MLC Yandapalli Srinivasulu Reddy, Collector Bharat N. Gupta and others were present on the occasion.