Haryana government making MSME friendly policies
In order to facilitate convenient loans for MSMEs, the Haryana Government is planning to set-up a 100cr fund, which will act as a guarantee to the lenders. Apart from this a 1,000cr fund will also be available to the various MSMEs of the state. This 1,000 cr fund will be available under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). This extra fund will act as leverage for the benefit of MSMEs in the state.
Chief Minister of Haryana, Manohar Lal Khattar spoke at the FICCI National Executive Committee meeting and announced that the bank credit will be available without any problems of any collateral. This will definitely boost the borrowing capacity of the small entrepreneurs, and they will be more confident when applying for a loan. Because of this many potential small-scale entrepreneurs will be able to realise their dreams of setting up their own businesses. He also mentioned that the MSME sector has been chosen to get the special support in the upcoming industrial policy.
The Haryana government also aims to identify industrial zones across the state, where industries including MSMEs will be able to set-up their units through delegated Change-of-Land-Use (CLU) process. District Facilitation Centres will be provided special support by the MSMEs.
Khattar also announced that the state government will also provide an inclusive approach to assist the MSME sector become a globally competitive entity. This will also align with Make in India, Digital India and Skill India campaigns. He even stated that land use reforms will be modified in order to promote walk-to-work culture. Also, incentives will be given for setting up industrial colonies. This in turn will generate employment avenues for the youth.
Further, norms will be put in place to make housing for industrial workers more affordable.
Things have changed a lot for Haryana over the years. Haryana primarily is an agriculture state and has an agrarian economy which has seen a lot of industrialization over the years, especially in the past 10 years. Haryana contributes a lot to the economy of the country. It is a small state which covers only 1.3 percent of the total land area of the country, but it contributes nearly 3.4 percent to the economy of the country. Haryana’s proximity to the National Capital Region plays quite an important role in the state’s economy. Also, relaxed tax norms have done well for the state.
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