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This is an archive article published on May 3, 2007
Govt to meet 80 of SME146;s capital needs
The Government will increase financial assistance for micro, small and medium enterprises to 80 per cent of their capital requirements in the 11th Five Year Plan...
Written by Enseconomicbureau
New Delhi May 2 | May 3, 2007 12:00 AM IST
2 min read
2 min read
The Government will increase financial assistance for micro, small and medium enterprises MSMEs to 80 per cent of their capital requirements in the 11th Five Year Plan, small scale industries secretary Chandrapal has revealed. Addressing an SME Cluster Conclave organised by the Confederation of Indian Industry CII, Chandrapal said,
8220;This financial assistance will be provided for technology upgradation and to meet financial gaps. It would be available for existing MSMEs clusters. The government would give this incentive under the MSME-Cluster Development Programme proposed under the Eleventh Plan.8221;
Chandrapal urged industry representatives to help the government identify the clusters that would be eligible for the proposed financial assistance, as well as to bring out schemes for skill development. Government departments can come up with schemes and industry representatives like CII can play the role of a catalyst to build skills, he added.
Under the Eleventh plan, the government is proposing to enable MSMEs to build a pool of consultants under its National Manufacturing Competitiveness Programme.
These consultants would be deployed with a cluster of 8-10 companies for a period of one to one and a half years at the government8217;s cost.
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