Subsidy scheme for micro units extended till 11th Plan

New Delhi, Feb 21 (UNI) The Government today approved the continuation of the Credit Linked Capital Subsidy Scheme (CLCSS) for Micro and Small Enterprises (MSEs) 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 MSEs will now be be able to further modernise their plants and machineries and upgrade their manufacturing technologies, an official statement said.

Under the scheme, launched during the Xth Plan, MSEs 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 MSE associations, the statement said.

UNI YJ RL RN1643