In Telangana, the MSME 2024 strategy was introduced to help the downstream MSME surmount some of their biggest challenges. That builds the opportunities to face difficulties in obtaining raw materials, capital, labor force skills, land resources, markets and also in technology. This is the first major attempt for MSMEs, after taking charge as Chief Minister by A. Revanth Reddy in December 2023.
Object Of MSME 2024 Policy & What Is It all about
Key Objectives:
- To fill the gaps in TS-iPASS for industrial projects in Telangana.
- Support the MSMEs right from the inception of their business.
- There are 40 steps to support your business in its development and growth.
Land Access Initiatives
- 5 out of 10 new industrial parks to be reserved for MSMEs.Difficulties in obtaining land, electricity and water supply eased.
- There will be a park for women entrepreneurs MSMEs and 1 for innovative women start-ups.
- Reservation of 5% plots in these parks for women entrepreneurs, and 15% SC/ST entrepreneurs.
Financial Support Measures
- Micro, Small & Medium Enterprises: SC/ST entrepreneurs will get 50% subsidy on capital investment up to ?1 crore.
- 25% subsidy will be given to Other MSMEs, upto ?30 lakh.
- 20% extra subsidy (maximum limit of ?20 lakh) can be availed by women entrepreneurs.
Speed Breakers on Growth
- Ten such common facility centres, each to be established in a different district.
- Private investors will receive discounts and rebates to encourage their participation.
Technological Advancements
- Yantram: ?100 crore Fund to facilitate adaptation of modern technology by MSMEs
- By the GOI will buy 25% of its requirements from MSMEs
Focus on Women’s Empowerment
- Reserved plots for women in industrial parks and additional financial support for women-owned businesses .
Month: Current Affairs - October 09, 2024
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