Home » State News » Odisha CM Announces Rs 289.42 Cr Package to support Covid-Hit MSME units

Odisha CM Announces Rs 289.42 Cr Package to support Covid-Hit MSME units

Bhubaneswar:15/12/20: In order to support MSME units in Odisha and compensate their losses during pandemic situation, Chief Minister Naveen Patnaik approved a package of Rs 289.42 crore for the sector.

The package includes a number of assistance measures such as interest subvention, top-up subsidy, reimbursement of State GST, and waiver of annual institutional maintenance charges.

As per a statement issued by the Chief Minister’s Office (CMO), the move will benefit a range of entrepreneurs, mostly women and weaker sections of society, in the MSME sector to recover from the unexpected challenges by the Covid-19 pandemic.

Under the Emergency Credit Line Guarantee Scheme (ECLGS), around 1,70,000 MSME units will reap the benefit of interest subvention. The Government will provide an interest subvention for the MSMEs with one-year moratorium.

“A sum of Rs 108.29 Crore is being released with a focus to cover 40 percent of eligible women run MSMEs,” the statement added.

Under the Prime Minister’s Employment Generation Programme (PMEGP) for the 2020-21 financial year, the top-up subsidy to weaker sections is 5% as promoters’ contribution as per the prescribed norm. An amount of Rs 27 crore has been provisioned to meet the requirement.

This will help in a big way to weaker section including SC/ST/OBC/Minority Community/Women/Physically challenged/Ex-Servicemen during the pandemic crisis.

For the food processing units functioning under the Prime Minister’s Formalization of Micro Food Processing Enterprises Scheme (PMFME), a Central-sponsored Scheme will be given 15% extra top-up subsidy to cover around 1,000 units for the current financial year. The State government will spend Rs10 crores towards top-up subsidy under the scheme.

The COVID-19 Assistance Package (CAP) launched by the Panchayati Raj and Drinking Water Department will bring relief to nano and micro Enterprises. Currently, assistance to the tune of Rs 100 crore will be made available through Women SHG members.

“As per the recently amended IPR approved by the State Cabinet, as many as 175 enterprises will be eligible for reimbursement of State GST for the period from July 1, 2017, to March 31, 2020. Under this proposal, a sum of Rs. 38.30 crore will be disbursed,” the CMO statement added.

The annual institutional maintenance charge payable by MSMEs to IDCO which comes around Rs 5.83 crore in respect of 5,000 MSMEs in various industrial estates has been waived. As per the decision, IDCO will bear the annual institutional maintenance charge.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

Check Also

Bhubaneswar:17/9/22:Evacuation and Relief materials distributed at Balipatna Block of Khordha, Odisha.