Rajasthan CM to release MSME policy today; to set up 20,000 new units

Rajasthan Chief Minister Ashok Gehlot will on Saturday launch the MSME Policy-2022 with a vision to set up 20,000 new MSME units with a total investment of Rs 10,000 crore and creating jobs for 1 lakh people.

Gehlot will launch the new policy in presence of Industries Minister Shakuntala Rawat and other dignitaries on the MSME Day.

The policy proposes to give a relaxation of five years in approvals and inspections for setting up and promotion of the MSME units, an official statement said.

In the 2019 policy, the relaxation period was three years, it said.

In the last four years, over 37.33 lakh people have got jobs in the micro, small, and medium enterprises, or the MSME sector, and its contribution to the GDP has been estimated to be 24.50 per cent.

In the financial year 2021-22, the total export of MSME industries was 72,000 crore.

The new policy is being brought to increase the contribution of MSMEs in the state's Gross Domestic Product (GSDP), as well as exports, the official statement said.

Under this policy, the government will seek to create a favourable regulatory environment for the MSME units and also extend more financial and technical assistance to the entrepreneurs.

The Chief Minister on Saturday will also release a new Handicrafts Policy to encourage manufacturers.