The State Government has extended various financial incentives to 278 MSME units during the current fiscal, thereby taking the total incentivised units to 639 since April, 2019. And, the amount of incentive has touched Rs 69.99 crore.
This was known from a State Level Empowered Committee meeting held under chairmanship of Chief Secretary Asit Tripathy on virtual mode on Friday evening wherein Principal Secretary MSME Satyabrata Sahu presented the updates along with new proposals for sanction of subsidy.
Considering the new proposals, Tripathy accorded in-principle approval for Rs 2.94 crore of Capital Investment (CI) subsidy in favour of two small scale enterprises. Tripathy directed to follow a complete transparent and proactive practice in assessment and disbursal of different financial incentives to the MSME units for attracting more and more young entrepreneurs into the sector.
Tripathy further directed to facilitate the process by providing proactive planning, technical and handholding support to the sector. The field level officials were asked to be in constant touch with local entrepreneurs and instill confidence in them.
The meeting considered the proposals of setting up of Kurpalu Solvent rice ban oil at Panikoili in Jajpur district with an investment of Rs 5.26 crore and Ram Oil rice ban oil in Attabira panchyat of Bargarh district with an investment of around Rs 4.87 crore for sanction of capital investment ( CI) subsidy. They were sanctioned CI of around Rs 1.73 crore and Rs 1.21 crore respectively.
Director Industries Reghu G appraised, “With this sanction the total amount of financial incentives sanctioned during the current year has crossed Rs 25.47 crore extended to 278 units.”
Principal Secretary MSME Satyabrata Sahu said, “Mainly three types of direct financial incentives viz. capital investment subsidy (at two slabs of 25 per cent and 33 per cent), interest subvention of 5 per cent per year for five years and VAT reimbursement for five years are provided to the MSMEs under different policies.” Besides, the Government departments and PSUs have been directed to procure at least 20 per cent of their requirement from local MSMEs.
In 2019-20, a total amount of around Rs 34.52 crore were provided as one or other incentive to 361 units. By November-end of the current fiscal year, Rs 25.47 crore were provided as incentives to 278 units. With this, a total number of 639 were incentivised with a total amount of Rs 69.99 crore from April, 2019 till end of November, 2020.
These units are spread over the sectors like fly ash brick making, paper egg trays, corrugated papers, plastic molded products, milk and milk products, bakery, paper cup and plates, cotton ginning plant, shrimp processing, rice mills, cement products cashew kernels, rice ban oil, spices, pickles, noodles, PVC pipes and other miscellaneous industries.
Chief Secretary Tripathy wanted more and more food processing units in diverse sectors.
