Centre to spend Rs8 cr on roads in industrial area of Ludhiana

Union Minister of Micro, Small and Medium Enterprises (MSME) Kalraj Mishra today said the Centre would be spending Rs 8 crore for strengthening of road network in Industrial Area and Focal Point in this industrial city of Punjab.
With a grant of Rs 8 crore, all roads in the Industrial Area and Focal Point would be repaired for the benefit of area industrialists, he said here.
On the second and last day of his two-day visit to the city, Mishra said that 32 industrial sectors have been identified in Punjab out of which 20 are in Ludhiana alone.
Mishra said work on the development of some of these sectors is going on at slow pace.

He added that the Centre has now directed towards expediting the work and develop these clusters on priority basis.
He also urged the state government to work in this regard.

Some industries of the MSME sector were facing problem for securing loan from banks, he said.
The MSME Minister said that now a Credit Guarantee Scheme has been started for MSME enterprises under which the MSME department takes guarantee of a particular enterprise.
He informed that under this scheme, they have already taken a guarantee of more than Rs 84,000 crore on behalf of several enterprises with the banks.
The minister said that another scheme named Credit Link Capital Subsidy Scheme has been started in which an MSME enterprise can avail a loan of Rs 1 crore with a subsidy of 15 per cent.

He urged the industrialists to take full advantage of this scheme.
The Minister said that for the revival and rehabilitation of sick enterprises, a new scheme has also been started under which the banks have been urged to give one chance to the sick enterprises to revive and rehabilitate themselves.