Coimbatore: FOCIA has requested that the investment subsidy limit be raised from Rs 25 lakh to Rs 1 crore as per the new rules. According to a letter sent to the Chief Minister of Tamil Nadu by the Federation of Coimbatore Industrial Associations it was conveyed that the small and micro enterprises have not yet returned to normalcy.
Coimbatore: FOCIA has requested that the investment subsidy limit be raised from Rs 25 lakh to Rs 1 crore as per the new rules. According to a letter sent to the Chief Minister of Tamil Nadu by the Federation of Coimbatore Industrial Associations it was conveyed that the small and micro enterprises have not yet returned to normalcy. The Government of Tamil Nadu is providing a 25 per cent subsidy on machinery investment to small industries through the Capital Subsidy Scheme on Credit Link and the grant is for investments up to Rs 25 lakh.
The central government has recently changed the definitions for small and micro enterprises. Accordingly, small businesses can invest up to Rs 1 crore in machinery and platforms. They said the Government of Tamil Nadu should therefore raise the investment subsidy ceiling from the current 25 lakh to 1 crore rupees in accordance with the new definition.
The central government has recently changed the definitions for small and micro enterprises. Accordingly, small businesses can invest up to Rs 1 crore in machinery and platforms. They said the Government of Tamil Nadu should therefore raise the investment subsidy ceiling from the current 25 lakh to 1 crore rupees in accordance with the new definition.