PHDCCI seeks revival of credit linked subsidy for micro, small units

Industry body PHDCCI has approached the government seeking reintroduction of the Credit Linked Capital Subsidy Scheme to facilitate technology upgradation of micro and small enterprises.

The scheme provided an upfront capital subsidy of 15 per cent subject to a maximum amount of Rs 15 lakh on institutional finance availed by the enterprises for induction of well-established and improved technology in the specified 51 sub-sectors/products. It was valid till 2019-20 and was discontinued thereafter.

President of PHD Chamber of Commerce and Industry (PHDCCI) Saket Dalmia took up the issue in a letter to Union Minister for Micro Small and Medium Enterprises Narayan Rane last week.

"We have been receiving feedback from our MSME members requesting us to take up the issue with the government for revival and reintroduction of the scheme as MSMEs still need this kind of financial support. We, therefore, earnestly request your good self to kindly look into this matter and initiate necessary ..