Three-Fold Increase In Generator Subsidy Cap For TN SMEs | SupportBiz

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Three-Fold Increase In Generator Subsidy Cap For TN SMEs

 
The increase in the ceiling on subsidy for generators will assist SME units installing generators of up to 320 KVA for their industrial needs.

Chennai, January 20: Tmail Nadu Chief Minister J Jayalalithaa has announced a considerable increase in the ceiling on subsidy for generators used by small scale industrial units.

The three-fold increase will see the current subsidy cap of 1.5 lakh to be raised to 5 lakh. The Chief Minister also announced a 2-core infrastructure development works at the Malumichampatti Industrial Estate near Coimbatore, The New Indian Express reports.

According to an official statement from the State Government, the increase in the subsidy of generators will help the MSMEs to mitigate the effects of power shortage in the state. The increase will help units installing generators of up to 320 KVA for their industrial needs.

In addition to the raise in generator subsidy, Jayalalithaa also announced a couple of other schemes aimed at helping MSMEs including the Chief Minister’s scheme to encourage the development of first-generation entrepreneurs, the MSME Cluster Development Programme and the programmes implemented by the Tamil Nadu Small Industries development Corporation (SIDCO) and Tamil Nadu Industrial Investment Corporation (TIIC), the report said.

Industry associations across the state have welcomed the government decision. “Apart from the revision in the subsidy amount, increasing the generator capacity to be covered under the scheme was a long pending demand. This would benefit the MSME,” S Ravikumar, President of Coimbatore Tirupur District Micro and Cottage Entrepreneurs Association (COTMA) said to the publication.