Big boost for MSME

By Nehru.T May. 22, 2020, 01:48 pm IST
Big boost for MSME

Rs.450 Crores released

The decision taken by the AP government can be said as a big boost to the industrial sector, especially micro small medium enterprises.

The Andhrapradesh state government has recognized the importance of the micro small and medium enterprises (MSME) and want to support those sector in all aspects. The MSME units have been struggling with pending power bills due to Corona cased lockdown for the past three months and even their business also was not upto their expectations. Now the chief minister YS Jaganmohan Reddy is interested to support those firms on behalf of the government and released Rs.450 crores to those units. The Andhrapradesh has around 95,000 MSME units and the basic power bills would be waived for three months. Even Rs.200 crores is allotted towards corpus fund to lend loans to the firms at lesser interest. These small scale industries are providing lakhs of jobs to the locals in various levels and helping them to get some income in their native areas. The previous government has completely ignored the MSME sector and hence, the firms are submerged in neck-deep troubles due to non-cooperation of the previous government. Now the YSRCP government has recognized the importance of the micro, small and medium industries and rendering its complete support.

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