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Andhra proposes special drive to register MSMEs

The state has also proposed to create a fund of Rs 100 crore

BS Reporter 

The Andhra Pradesh government has proposed a special drive to identify and register the micro small and medium enterprises (MSMEs) with the industries department as there is no comprehensive record of these units available with the government.

“It is estimated, based on available statistics, that only 10-15 of MSMEs are registered with the department of industries. Hence, a special drive has been proposed to identify such units and get them registered with the department,” the government said in the recently launched MSME policy.

The government announced a host of financial incentives, including reimbursement of VAT equivalent to 100 per cent of capital investments made by the respective units.

Under the policy, the state government has set a target of attracting investments worth Rs 15,000 crore in the MSME sector by 2020. Through these investments, the government expects creation of an additional employment opportunity for 350,000 people.

Apart from incentives to new units, the government has also proposed to create a fund of Rs 100-crore in 2015-16 to support the revival of sick small and medium units. The fund would be utilised to achieve the goals of speedy revival, additional employment generation, enhancing market linkages and imparting discipline in the management of MSMEs to create a robust ecosystem, it said.

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First Published: Fri, May 15 2015. 22:30 IST