With an aim to spur the growth of small industries in the state, the Tamil Nadu government will infuse Rs 16 crore in the state-owned Tamil Nadu Small Industries Development Corporation Limited (Tansidco). Chief minister Jayalalithaa ordered an additional payout of Rs 16 crore as the state government's share capital to Tansidco.
"This is to strengthen the corporation's financial resources and spur the growth of small industries," according to a press release. It was further stated that with the additional allocation, the share capital of Tansidco will increase to Rs 24.70 crore.
Meanwhile, Jayalalithaa also ordered to allocate Rs 2 crore for upgradation of infrastructure and refurbishment of old buildings of micro, small, medium enterprises (MSME) laboratories in Chennai, Madurai, Coimbatore, Salem and Tuticorin.
