New Delhi, Feb 21 (UNI) The Government today approved the continuation of the Credit Linked Capital Subsidy Scheme (CLCSS) for Small Scale Industry (SSI) units in the 11th Plan.
The approval was given by the Cabinet Committee on Economic Affairs (CCEA), presided over by Prime Minister Manmohan Singh.
With this decision, the SSI units will now be be able to further modernise their plants and machineries and upgrade their manufacturing technologies, offical sources said.
Under the scheme, launched during the Xth Plan, SSI units get 15 per cent capital subsidy on a loan up to Rs one crore for introducing improved technologies.
As many as 2400 units, which have already obtained financial assistance of about Rs 833 crore under the scheme, are awaiting subsidy clearance of about Rs 115 crore.
The scheme was extended at the request of various SSI associations.
UNI YJ RL AS1902