The government in Madhya Pradesh on Sunday announced a slew of incentives for the promotion of micro, small and medium enterprises (MSMEs) in the state, in a bid to achieve a 12 per cent growth rate and additional job creation during the 12th five-year Plan.
Chief Minister Shivraj Singh Chouhan, on the eve of a ‘Global Investors Meet’ announced reservation of land lots for MSMEs in the proposed 27 industrial estates, guaranteed power supply, exemption in payment of export tax imposed by local civic bodies and a cluster development programme.
A programme for technology development was also announced for MSMEs, fully funded by the state government. He declared an initial allocation of Rs 10 crore for this purpose.
Chavan, who reiterated his government's resolve to put Madhya Pradesh on a fast-track growth path, also announced development of clusters exclusively for MSMEs. Besides, a vendor development programme would be launched with the chambers of commerce and the Indian Institute of Management here. The government has allocated Rs 10 crore for thus purpose.
During on Sunday's conclave on SMEs, 113 memorandums of understanding with sector proposed investments of Rs 670 crore in the sector were exchanged. These ventures are expected to create 6,700 jobs, Chouhan said.
The CM also said a new scheme to promote young entrepreneurs, especially in rural areas, would be implemented. They’d be provided continuous power supply from next year. He detailed special grants to units for skill development.
The CM said land acquisition would not be a serious problem for investors, as nearly 20,000 hectares had already been acquired.
"The government will also reserve part of the land for MSMEs in the proposed 27 industrial estates. The government has proposed a comprehensive plan of Rs 3,000 crore for this purpose," he said.
Chouhan reiterated the sector’s importance for the state achieving 12 per cent growth during the 12th Plan. "Against the target of 7.6 per cent annual growth, Madhya Pradesh clocked 10.2 per cent during the 11th Plan. In the current Plan, the state has set a 12 per cent growth rate target and during the first year, achieved 11.98 per cent. Madhya Pradesh's agricultural growth rate of 18 per cent is the highest across the country," he said.
