Friday, October 23, 2020
Home Business Kerala launches portal to support pandemic-hit MSME sector

Kerala launches portal to support pandemic-hit MSME sector

Thiruvananthapuram, Oct 16 : The Kerala government on Friday launched an online portal for speedy and transparent delivery of concessions, including interest subsidy for the revival of Micro Small and Medium Enterprises, hit badly by the economic downturn triggered by the COVID-19 pandemic. The portal, inaugurated by Industries minister E P Jayarajan, carries all the details of various measures under the Vyavsaya Bhadratha Package, including financial support and concessions for MSMEs reeling under the impact of the pandemic.

Principal Secretary, Industries, Dr K Ellangovan, Industries secretary, APM Mohammad Hanish, were among those present on the occasion.

The interest subsidy on capital credit and term loans availed by MSMEs from financial institutions is a major component of the package.

The Department of Industries has allocated Rs 37.65 crore for meeting this commitment through re-appropriation route, according to a press release.

Under the scheme, MSME units which had availed additional capital credit or additional term loan, either separately or together, from April 1 to December 31 2020, will be entitled for 50 per cent interest subsidy for six months.

A ceiling of Rs 30,000 has been set for single loan and Rs 60,000 for both the loans under this facility, the release said.

The benefit of interest subsidy is also eligible for MSMEs that have availed loans under the Emergency Credit Line Guarantee Scheme (ELGS) under the Centres Atma Nirbhar Bharat project.

As per the current statistics, the banks in the state had provided Rs 4,863.53 crore as loan under 10,4588 accounts.

Over 50,000 MSMEs that have availed loans will benefit from the interest subsidy scheme.

The Directorate of Industries and Commerce (DIC) launched the online portal with the intention of extending the concessions to eligible MSMEs in a time-bound and transparent manner.

For availing the concession, the beneficiaries can directly apply through the portal available on the official website of Directorate of Industries and Commerce “http://Industry.kerala.gov.in”Industry.kerala.gov.in. The package, aiming at the overall development of the industrial sector, was worked out on the basis of discussions held by the government with representatives of various industries associations.

SourcePTI

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POST

Will reject central farm acts after SAD forms govt in Punjab: Sukhbir

Chandigarh, Oct 22 : SAD chief Sukhbir Singh Badal on Thursday said his party will not allow implementation of the Centre's farm laws when...

Adani to take over airport ops at Mangaluru by Oct 31, Lucknow by Nov 2, Ahmedabad by Nov 11: AAI

New Delhi, Oct 22 : The Adani group would be taking over the operations, management and development of the airports at Mangaluru, Lucknow and...

Rasika Dugal opens up about receiving ‘misogynistic’ comments for ‘Mirzapur’

Mumbai, Oct 22 : Actor Rasika Dugal on Thursday said every time she puts a post on social media about her character Beena Tripathi...

PM, Union ministers, CMs, political leaders greet Amit Shah on birthday

New Delhi, Oct 22 : Prime Minister Narendra Modi, Union ministers, chief ministers and leaders of different political parties on Thursday greeted Union Home...

MOST READ

Gold declines by Rs 95 on weak global trend

New Delhi, Oct 22 : Gold prices fell Rs 95 to Rs 51,405 per 10 gram in the national capital on Thursday amid a...

Hong Kong bars Air India, Vistara flights till Oct 30 after passengers test positive for COVID-19

New Delhi, Oct 16: Hong Kong has banned Air India and Vistara flights from October 17 to 30 after a few passengers on their...

Man commits suicide in UP after losing job

Aligarh (UP), Oct 17 : A 22-year-old man allegedly committed suicide by consuming poison in Aligarh district in Uttar Pradesh after he lost his...

MSI unveils special offers for govt employees with benefits up to Rs 11,000

New Delhi, Oct 18 : The country's largest carmaker Maruti Suzuki India on Sunday announced special offers for government employees with benefits up to...