CICU, FICO take up issue of credit limit hike with Giriraj Singh

The minister advised S S Dhillon, Director, MSME, to prepare formal document on the issues and submit it to him.

By: Express News Service | Ludhiana | Published: December 8, 2014 5:45:51 am
Union Minister of State for MSME Giriraj Singh (centre) in Ludhiana on Sunday. (Source: Express photo by Gurmeet Singh) Union Minister of State for MSME Giriraj Singh (centre) in Ludhiana on Sunday. (Source: Express photo by Gurmeet Singh)

In an interactive session with the Chamber of Industrial and Commercial Undertakings (CICU) and the Federation of Industrial and Commercial Organisation (FICO), Giriraj Singh, Minister of State, Ministry of Micro Small and Medium Enterprises (MSME), was given a list of demands. The associations stated that credit limit of micro units should be increased from Rs 25 lakh to Rs 3 crore, that of small units from Rs 5 crore to Rs 10 crore and for small units, from Rs 10 crore to Rs 20 crore.

The associations stated that the Technology Upgradation Fund (TUF) scheme should be popularised and the limit of Credit Linked Capital Subsidy Scheme (CLCSS) should be enhanced from Rs 1 crore to Rs 5 crore.

The other demands included a MSME fund for cluster development, technology upgradation and finance at low price, said Avtar Singh, president, CICU.

The minister advised S S Dhillon, Director, MSME, to prepare formal document on the issues and submit it to him. He also assured the industrialists that their interests would be taken care of.

The prominent industrialists who attended the meetings were  Ramesh Mago, president, Food Processing Industries; Vinod Thapar, Chairman, Knitwears Club; Gurmeet Singh Kular, president, FICO; Narinder Bhamra, president, Fasteners’ Association; D S Chawla, ex-president; UCPMA; S C Ralhan, president, Hand Tools Association; Satish Dhanda, Vice-President, Akali Dal; R K Jindal, patron, CICU; T R Mishra, president, Boiler Association; and many others. Hardeep Sungh Grewal, Chairman, Khadi Board, and Praveen Bansal, district president, BJP Ludhiana, were also present.

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