Telangana CM A. Revanth Reddy, Deputy CM Mallu Bhatti Vikramarka, Industries Minister D. Sridhar Babu and others on the launch of MSME Coverage 2024 at Shilpa Kala Vedika of Madhapur in Hyderabad on September 18, 2024.
| Picture Credit score: Ramakrishna G
Telangana authorities has unveiled a coverage devoted to micro, small and medium enterprises (MSME 2024) outlining motion plan to deal with their key, development constraining challenges round land, finance, uncooked materials, expert labour, market entry and know-how.
First such within the State that the Chief Minister A.Revanth Reddy described as one of many earliest coverage reforms launched by the federal government, since assuming workplace in December 2023, the coverage seeks to deal with gaps for MSMEs within the TS-iPASS coverage.
As many as 40 measures to supply end-to-end assist, from startup to sale section, kind a part of MSME 2024 coverage that the Chief Minister accompanied by Deputy CM Mallu Bhatti Vikramarka, Industries and IT Minister D.Sridhar Babu launched within the presence of business leaders and entrepreneurs.
5 industrial parks
In direction of bettering entry to reasonably priced land, the brand new coverage mentioned 5 of the ten new industrial parks to be developed between present Outer Ring Highway and the proposed Regional Ring Highway will probably be completely for MSMEs. One will probably be reserved for women-owned MSMEs, whereas one other will probably be for modern start-ups.
In all new industrial parks, 5% plots will probably be reserved for girls and 15% plots for SC/ST entrepreneurs. Land value rebate for SC/ST entrepreneurs will probably be 50% with a cap of fifty lakh. The federal government additionally intends to encourage improvement of personal flatted manufacturing unit complexes and industrial parks, by providing stamp responsibility reductions and rebates on the land value. It is going to assemble flatted factories with in-built services for girls throughout 119 constituencies, significantly encourage SHG ladies members to arrange small companies.
Spurring on with subsidy
On challenges associated to finance, the MSME coverage proposes capital funding subsidy scheme underneath which SC/ST entrepreneurs will get 50% with a cap of Rs.1 crore (for manufacturing models); whereas all different MSMEs will get a subsidy of 25% with a cap at Rs.30 lakh; and girls entrepreneurs a 20% extra subsidy and extra cap of Rs.20 lakh. Pilot programmes will probably be launched for MSMEs to entry credit score primarily based on future gross sales.
Different measures for accelerating development of MSME, which the Chief Minister wished to play a key function within the State rising as $1 trillion financial system, the coverage has advisable organising of 10 new widespread facility centres to be developed round MSME clusters in as many districts; establishing cluster-based testing services on PPP mode; one warehouse will probably be constructed in PPP mannequin in every of the 5 ORR-RRR MSME parks. Building of warehouses will probably be inspired by 100% stamp responsibility low cost and land value rebates. The responsibility incurred on import of uncooked materials will even be reimbursed.
Rs.100 cr Yantram Fund
Underneath know-how help measures, the federal government will represent a Rs.100 crore Yantram Fund to encourage adoption of know-how by MSMEs. The federal government will even include a coverage on preferential public procurement stipulating that 25% of such procurement will probably be from MSMEs. The federal government will assist co-location of ancillary MSMEs which can be part of provide chain for large-scale MNCs setting base in Telangana. The ancillary MSMEs will probably be given the identical incentives as the massive models.
Reimbursement of value
Bulk buy of digital know-how at discounted charges for MSME clusters and industrial parks will probably be taken up, whereas IPR registration value for all MSMEs will probably be reimbursed. Additionally, responsibility on samples imported for prototyping as much as Rs 10 lakh will probably be reimbursed. For ladies owned MSMEs, the restrict will as much as 15 lakh.
Revealed – September 18, 2024 05:02 pm IST
