Puducherry: Subsidies would be extended to entrepreneurs in rural and urban areas and credit facility up to Rs 25 lakh would be available without bank guarantees under a scheme of the UPA government, Minister of State for MSME, K H Muniyappa said here on Sunday.
The subsidy would be 35 percent for weaker sections in rural areas and 25 percent for others. In urban areas, it would be 25 percent for weaker sections and 15 percent for others, he said, speaking at a seminar here.
He claimed that one lakh entrepreneurs would be encouraged nationwide through this initiative, which would be able to provide jobs to more than eight lakh people. As much as Rs 8,000 crore would be extended under subsidy scheme under the Prime Minister's Employment Generation Programme, he said.
He said a Tool Room (Technology Training Centre) would be set up here to augment skills of young entrepreneurs, enable them carry out research and contribute to the industrial development of Puducherry,
"The tool room will be set up in the next three months in Puducherry which has good potential for industrial development. It will be able to train 3,000 youth upto international standards initially and would achieve a level of 10,000 youth in course of time," he said.
He was addressing a seminar on "catalysing growth of small and Medium Enterprises," organised by CII (Southern Region).
Muniyappa said the youth constituted a big chunk in the overall population and there was need to ensure they are brought on to the mainstream through training and R&D.
Stating that Minister of State in PMO V Narayanasamy was keen on Puducherry being given a fillip for speedy industrial development, he said the Centre was very much interested in extending full help and cooperation to Puducherry.
He took exception to the absence of Chief Minister N Rangasamy, saying he should have been present at the seminar in response to the invitation extended by the CII.
"Forget all political aspects and ensure that Puducherry progresses fast by making use of Central government's various schemes and programmes for industrial progress," he said.
Muniyappa said a team from the Micro, Small and Medium Enterprises Ministry, headed by Additional Secretary and Development Commissioner, Amarendra Sinha would camp here to interact with local industrialists to identify the full scope for industrial development.
Leader of the opposition V Vaithilingam spoke on the importance of generating jobs for the youth in Puducherry.
Chairman of CII Puducherry State Council detailed the role of SMEs to augment job opportunities and also enhancing the economy of the country.
First Published: Sunday, October 20, 2013, 20:10