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2010-12-16

Cabinet okays demand for MSMEs in J&K

The government today decided to double subsidy for micro, small and medium enterprises (MSMEs) in Jammu and Kashmir, at par with North Eastern states.

The government today decided to double subsidy for micro, small and medium enterprises (MSMEs) in Jammu and Kashmir, at par with North Eastern states.

The decision to modify the Central Capital Investment Subsidy Schemes for J&K was taken at a cabinet meeting in New Delhi. The capital investment subsidy for the MSMEs in the state will be enhanced to 30 per cent of the investment on plant and machinery, according to an official release. Also, these units both in J&K and NER will now be eligible to claim subsidy each time they undertake expansion as long as the total investment on plant and machinery does not exceed the prescribed ceilings.

The limit for units in the manufacturing sector is Rs 10 crore and for the services sector Rs 5 crore.

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