MSME Ministry Announces Grant Of Rs 8 Crore For Strengthening Of Road Network In Industrial Area & Focal Point

Ludhiana, July 13, 2015: For the strengthening of road network in Industrial Area and Focal Point in the city, the Micro, Small and Medium Enterprises (MSME) ministry of the centre government would be spending Rs 8 crore. This was announced by Mr Kalraj Mishra, Union Minister of Micro, Small and Medium Enterprises, while addressing a press conference here today. Mr Mishra said that 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.

While addressing a press conference on the second and last day of his two day visit to the city, Mr Kalraj Mishra said that 32 industrial sectors have been identified in Punjab out of which 20 are in Ludhiana alone. He said that it has come to his notice that work on the development of some of these sectors is going on at slow pace. He said that he has now directed his staff in the state to expedite the work and develop these clusters on priority basis. He also urged the state government to work in this regard.

While speaking to media persons, the Union Minister said that earlier some industries of MSME sector were facing problem for securing loan from banks. He 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.

He 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 percent. 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.

Today, the minister also held a series of meetings with representatives of different industrial organisations and heard their grievances.

Prominent among those present on the occasion included Vice Chairman of Punjab State Planning Commission Prof Rajinder Bhandari, BJP district president Mr Parveen Bansal, former minister Mr Satpal Gosain, besides several others.