Based on comments made during the consultation meeting held earlier with industrial experts, various relaxations have been announced by the Tamil Nadu Government.
Chennai: A consultative meeting was held in Chennai on May 9, under the chairmanship of the Tamil Nadu Chief Minister M K Stalin with trade and industry organizations about the implementation of curfew rules to contain Covid-19.
Based on the comments made during the consultation meeting, Chief Minister M K Stalin announced the following:
1. An estimated amount of Rs. 280 crore has been earmarked for this financial year to provide investment subsidy to self-financing Micro, Small and Medium enterprises. Of this, 60 percent (Rs. 168 crores) will be released to companies immediately. This paves the way for subsidy to reach all eligible companies in the state.
2. Small, Medium Enterprises (SMEs) are required to pay (MOD) stamp paper duty to receive financial assistance from banks. Exemption for the payment of stamp paper registration fee was given till March 31. This is extended to December 2021.
3. All legal licenses which expire from May 2021 to September 2021 including the Pollution Control Board, Fire Department, Department of Labor, Department of Occupational Safety, Business Licenses are extended until December 2021.
4. Macro, Small and Medium enterprises (MSMEs) have already been exempted from the requirement to increase their turnover by 25 percent till March 31 to acquire investment for expansion. This has been extended for another nine months till December 31.
5. About 5 percent Back Ended Interest Subsidy (BEIS) on loans obtained under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) and Technology Upgradation Scheme will be released immediately.
6. SIDCO plots will be made fast track based on plot allotment.
7. A further six-month time period has been extended for MSMEs to pay the installment amounts for SIDCO, and price and rent for the workshops.
8. Covid-19 vaccination has been arranged for over one lakh workers over the age of 45 working in micro, small and medium enterprises (including SIDCO industrial estates, trade unions) in all districts. Steps will be taken to vaccinate all those who are eligible for the Covid vaccine through special camps.
9. Considering the welfare of auto rickshaw and taxi drivers and owners, the road tax charges for auto rickshaws and taxis are extended by 3 months.
10. Central Reserve Bank (RBI) will be requested to extend the time limit for pay monthly installments (EMI) to MSMEs, auto rickshaws, cabs and cab owners.
11. The Central Government and the IRDA will be urged to extend the payment of insurance premium for vehicles such as auto rickshaws and cabs which expire in May 2021.
12. Statutory Licenses issued by the Fire, Industry and Pollution Control Department which expire in May 2021 will be extended for another six months. In this regard, the concerned departments should take further action to issue appropriate orders.
13. It has been decided to provide Capital Subsidy in a single installment instead of sanctioning it in three installments, considering the industrial growth of the State and considering the industrial resources.
14. Employees working in large and small enterprises are given 3 months time to pay their professional tax.
Based on the comments made during the consultation meeting, Chief Minister M K Stalin announced the following:
1. An estimated amount of Rs. 280 crore has been earmarked for this financial year to provide investment subsidy to self-financing Micro, Small and Medium enterprises. Of this, 60 percent (Rs. 168 crores) will be released to companies immediately. This paves the way for subsidy to reach all eligible companies in the state.
2. Small, Medium Enterprises (SMEs) are required to pay (MOD) stamp paper duty to receive financial assistance from banks. Exemption for the payment of stamp paper registration fee was given till March 31. This is extended to December 2021.
3. All legal licenses which expire from May 2021 to September 2021 including the Pollution Control Board, Fire Department, Department of Labor, Department of Occupational Safety, Business Licenses are extended until December 2021.
4. Macro, Small and Medium enterprises (MSMEs) have already been exempted from the requirement to increase their turnover by 25 percent till March 31 to acquire investment for expansion. This has been extended for another nine months till December 31.
5. About 5 percent Back Ended Interest Subsidy (BEIS) on loans obtained under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) and Technology Upgradation Scheme will be released immediately.
6. SIDCO plots will be made fast track based on plot allotment.
7. A further six-month time period has been extended for MSMEs to pay the installment amounts for SIDCO, and price and rent for the workshops.
8. Covid-19 vaccination has been arranged for over one lakh workers over the age of 45 working in micro, small and medium enterprises (including SIDCO industrial estates, trade unions) in all districts. Steps will be taken to vaccinate all those who are eligible for the Covid vaccine through special camps.
9. Considering the welfare of auto rickshaw and taxi drivers and owners, the road tax charges for auto rickshaws and taxis are extended by 3 months.
10. Central Reserve Bank (RBI) will be requested to extend the time limit for pay monthly installments (EMI) to MSMEs, auto rickshaws, cabs and cab owners.
11. The Central Government and the IRDA will be urged to extend the payment of insurance premium for vehicles such as auto rickshaws and cabs which expire in May 2021.
12. Statutory Licenses issued by the Fire, Industry and Pollution Control Department which expire in May 2021 will be extended for another six months. In this regard, the concerned departments should take further action to issue appropriate orders.
13. It has been decided to provide Capital Subsidy in a single installment instead of sanctioning it in three installments, considering the industrial growth of the State and considering the industrial resources.
14. Employees working in large and small enterprises are given 3 months time to pay their professional tax.