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Odisha Chief Minister Naveen Patnaik on Tuesday, December 15, announced a ₹289.42 crore stimulus package for Micro, Small and Medium Enterprises (MSME) sector to help them tide over the coronavirus-induced crisis.
Officials privy to the matter have specified that the package is aimed at helping the entrepreneurs, mostly women and small business units. The assistance reportedly includes measures such as grants pertaining to interest amount (interest subvention), top-up subsidy, reimbursement of state GST and waiver of annual institutional maintenance charges.
"In ECLGS (Emergency Credit Line Guarantee Scheme), 1,70,000 MSME units will reap the benefit of interest subvention. A sum of ₹108.29 crore is being released to help 40 per cent of all women-run MSMEs," said one of the officials, reported Hindustan Times.
Reports have also pointed out that according to the amendment made in the industrial policy resolution (IPR), as many as 175 enterprises will be eligible for reimbursement of state GST for the period July 1, 2017, to March 31, 2020.
The waiver of annual institutional maintenance charge, which is payable by MSMEs and amounts to ₹5.83 crore annually, will be borne by Odisha Industrial Infrastructure Development Corporation
Additionally, COVID-19 assistance package (CAP), launched by Panchayati Raj and Drinking Water Department, will also provide relief to nano and micro-enterprises.
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