Odisha CM Naveen Patnaik approved a package of Rs.289.42 Crore for the benefit of MSMEs in order to combat the pandemic situation in the State

Bhubaneswar: Chief Minister Naveen Patnaik approved a package of Rs.289.42 Crore for the benefit of MSMEs in order to combat the pandemic situation in the State.

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. It is aimed at benefiting a range of entrepreneurs, mostly women and weaker sections of society, in the MSME sector of the state to recover from the unexpected challenges by the Covid 19 pandemic. In ECLGS 1,70,000 MSME units will reap the benefit of interest subvention.

A sum of Rs. 108.29 Crore is being released with a focus to cover 40 percent of eligible women run MSMEs.

Under the PMEGP for the 2020-21 Financial Year, the Top-up subsidy to weaker sections is 5 percent as promoters contribution as per the prescribed norm. An amount of Rs.27 Crores has been provisioned to meet the requirement. This will help in a big way to weaker section (SC/ST/OBC/Minority Community/Women/Physically challenged/Ex-Servicemen) in facing the pandemic crisis.

For the food processing units functioning under PMFME, a Central Sponsored Scheme, on 60:40 basis, will be given 15% extra Top-up subsidy to cover around 1000 unit for the current financial year. Rs10 Crores will be given towards top up subsidy under the scheme .

COVID-19 Assistance package (CAP) launched by Panchayati Raj and Drinking Water Department is another assistance provision that 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.