The special package, announced by deputy chief minister Nitin Patel, who also holds the finance portfolio, offers enhanced assistance to MSMEs for market development, technology acquisition, raising finance through SME exchanges, additional assistance for power connections and capital and rental charges.
Gujarat is home to more than 3 lakh MSME units, with many of them in the textile and garment sector. The special package is likely to give a major breather to these units, especially for the ones that suffered losses due to cash crunch in the last two months of 2016, following demonetisation of high value currency notes.
The state budget also includes a special package for scheduled caste and scheduled tribe members under the Bharat Ratna Dr Bahasaheb Ambedkar Udyog Yojana. The package includes additional support for entrepreneurship training with mentorship and sustenance allowances, assistance for new power connection and support for industrial infrastructure. (RKS)
ALCHEMPro News Desk – India
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
