Worried over persisting slump in the manufacturing segment,the commerce and industry ministry is working on a proposal on giving interest subsidy as part of its efforts to shore up growth in the sector.
The Department of Industrial Policy and Promotion (DIPP) is discussing the proposal internally. In manufacturing,sectors which are doing very bad may get the benefit. Those areas will be decided during the meetings, an official told PTI.
The finance ministry will take final call to extend interest subvention benefits,he added.