The Government of Kerala has launched an online portal for speedy and transparent delivery of concessions including interest subsidy for the revival of Micro Small and Medium Enterprises (MSMEs), hit badly by the economic downturn triggered by COVID-19 pandemic.
The portal, inaugurated by Minister for Industries E.P. Jayarajan, carries all the details of various measures under the ‘Vyavsaya Bhadratha Package’, including financial support and concessions for MSMEs reeling under the impact of the pandemic.
Dr K. Ellangovan IAS, Principal Secretary, Industries; APM Mohammad Hanish IAS, Secretary Industries; and senior officials were present on the occasion.
The interest subsidy on capital credit and term loans availed by MSMEs from financial institutions is a major component of the package. The Department of Industries has allocated Rs.37.65 crore for meeting this commitment through Re-appropriation route.
Under the scheme, MSME units which had availed additional capital credit or additional term loan, either separately or together, from April 1 to December 31 2020, will be entitled for 50 per cent interest subsidy for six months. A ceiling of Rs.30000 has been set for single loan and Rs.60000 for both the loans under this facility.
The benefit of interest subsidy is also eligible for MSMEs that have availed loans under the Emergency Credit Line Guarantee Scheme (ELGS) under Centre’s Atma Nirbhar Bharat project.
Accroding to the current statistics, the banks in the State had provided Rs.4863.53 crore as loan under 104,588 accounts. Over 50,000 MSMEs that have availed loans will benefit from the interest subsidy scheme.
The Directorate of Industries and Commerce (DIC) launched the online portal with the intention of extending the concessions to eligible MSMEs in a time-bound and transparent manner.
For availing the concession, the beneficiaries can directly apply through the portal available on the official website of Directorate of Industries and Commerce www. Industry.kerala.gov.in
The application will be forwarded to the General Manager of the respective District Industries Centre with the recommendation of the Industrial Development Officer. The details regarding the sanctioning of amount will be put on the portal after examination and settlement of claims. The applicant can see the status of the claim by logging in the portal.
The package aiming at the overall development of industrial sector was worked out on the basis of discussions held by the government with representatives of various industries associations.
M.G. Rajamanickam IAS, Managing Director Kerala State Industrial Development Corporation (KSIDC), NSK Umesh IAS, Executive Director KSIDC, Ramesh Candran R, Additional Director DIC and Suraj S, CEO Kerala Bureau of Industrial Promotion (K-BIP) were present at the function.