Haryana announces incentives for MSMEs

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SME Times News Bureau | 09 May, 2020
In view of the important role of micro, small and medium enterprises (MSMEs) in economic development, Haryana Chief Minister Manohar Lal Khattar on Saturday made several announcements to bring these industries back on track.

These include setting up bank complaint information centres for redressal of issues related to banks, extending the date to deposit electricity bills without penalty till May 31, to provide state guarantee for bank loans to MSMEs from Small Industries Development Bank of India, fixing power rate at Rs 4.75 per unit for agriculture-based industries up to 20 KW, and pre-fabricated housing for labourers in the factories itself.

The Chief Minister said this while interacting with representatives of MSMEs along with members of Laghu Udyog Bharati Association of all districts through videoconference here.

Deputy Chief Minister Dushyant Chautala, who also holds the portfolio of Industries and Commerce Department, was also present.

The Chief Minister said during the nationwide lockdown, economic activity of all the states was affected and now they are being reopened in a phased manner.

"Haryana's Enterprise Promotion Policy, 2015 was appreciated all over the country. Now the state government is committed to make the best industrial policy in the country again. A new Enterprise Promotion Policy will be formulated from August 2020, for which suggestions will be invited from all stakeholders," he said.

Khattar said the revenue collected by the state in the last two months has been almost negligible.

The revenue is mainly collected from GST, Excise, Stamp Duty, VAT refund from central government, and mining, he added.

He said that these are now being operationalised in a phased manner.

He assured that a separate Nodal Officer will be appointed for issues related to HSIIDC. In addition, issues related to VAT refunds of 2017 are being resolved in a timely manner.

For about 1,300 applications, a refund of Rs 162 crore has been made since April 2020.

He also assured to re-assess MSMEs' bank loans. The scheme to provide 10 per cent working capital has also been announced by the central government, he added.

The Chief Minister said that in long-term loans, the margin money taken from MSMEs will be reduced to 15 per cent.

During the lockdown period, adequate arrangements were made in Haryana in which the state government has spent Rs 1,047 crore for the needy. Various organizations have contributed Rs 250 crore to the Haryana Corona Relief Fund, he added.

He said that 72,000 people had registered on the COVID-19 Sangharsh Senani Portal and offered voluntary service to fight the battle against coronavirus.