Tamil Nadu CM MK Stalin offers relief to MSMEs

Tamil Nadu Chief Minister MK Stalin has announced certain relief measures for Micro, Small and Medium-scale Enterprises (MSMEs) in the state, which have been accepted by the industries in Tirupur and Coimbatore. The CM also assured vaccination for workers.

According to MV Ramesh Babu, President, Coimbatore District Small Industries Association, Mr Stalin has assured that steps would be taken to vaccinate all the eligible workers. He believes that this assurance by Stalin would help the MSMEs at this point when the industry is hit by adverse factors. 

KV Karthik, President, Southern India Engineering Manufacturers’ Association (SIEMA), said that the demands of the industries have been fulfilled within 48 hours by the government. He also said that decisions like exempting MOD charges for a few months and releasing Rs 1.68 billion will also help the industries.

According to A Sivakumar, President, Coimbatore and Tirupur District Micro and Cottage Entrepreneurs Association, the units should get additional benefits like moratorium for repayment of interest and interest-free loans from banks. He also said that the MSMEs should be exempted from GST filing for another three months. 

Raja M Shanmugham, President, Tirupur Exporters’ Association, supported the idea offered by Sivakumar. He also added that these concessions will be helpful for the Tirupur knitwear exports sector. He said that due to various adverse factors both internally and externally, the units were struggling to carry on with operations. 15% capital subsidy was provided by the central government’s Amended Technology Upgradation Funds Scheme (ATUFS) to the garment sector. Some privileged states could avail of the subsidies offered by both state and central governments. But the case is not the same in Tamil Nadu. Here, the units could only avail one subsidy. Shanmugham wants that the units in Tamil Nadu should also be able to avail both the subsidies. 

It is expected that MSMEs will be able to perform better if due support is extended by the government. 

Source: The Hindu

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