Left Menu
Development News Edition

CLCS-TUS scheme for MSMEs extended for three years with 2,900cr outlay


 CLCS-TUS scheme for MSMEs extended for three years with 2,900cr outlay

The government Wednesday approved a three-year extension of the Credit Linked Capital Subsidy and Technology Up-gradation Scheme for MSMEs with total outlay of 2,900 crore. The scheme has been approved for continuation beyond the 12th five-year Plan for three years from 2017-18 to 2019-20.

The decision was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA). "The scheme would be demand driven. But its coverage has been made more inclusive," an official statement said.

It will facilitate technology upgradation to MSMEs, improvement in quality of products, enhancement in productivity, reduction in waste, and it will promote a culture of continuous improvement. The scheme aims at improving competitiveness of MSMEs by integrating various current schematic interventions aimed at up-grading technology through Credit Linked Capital Subsidy, hand holding for zero defect zero effect manufacturing, increasing productivity through waste reduction, design intervention, cloud computing, facilitation of intellectual property and nurturing new ideas.

Special provisions have been made in the scheme to promote entrepreneurship for SC/STs, women, hill states (Jammu & Kashmir, Himachal Pradesh & Uttarakhand), island territories (Andaman & Nicobar and Lakshadweep) and the aspirational districts/ LWE (Left-wing extremism) districts, as in these cases the subsidy will be admissible also for investment in acquisition /replacement of plant & machinery/equipment & technology up-gradation of any kind. The objective of the scheme is to facilitate technology up-gradation in MSEs by providing an upfront capital subsidy of 15 per cent (on institutional finance of up to Rs 1 crore availed by them) for induction of well-established and improved technology in the specified 51 sub-sectors/products approved.

(With inputs from agencies.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

Beware! Maximum cyber criminals eye your personal data

A report of the World Economic Forum revealed that cyber security is increasingly becoming an issue of public security as the majority of cyber criminals are increasingly targetting individual internet users. This requires preventive measur...

WEF 2020: Trump seems politically correct in pulling out from Paris Agreement

If the survey of the World Economic Forum WEF is believed, Trump seems to enjoy the confidence of his people in flaying climate intuitions and climate activists. His preference for economic development over environmental protection not only...

From home to healthcare, here are Robotic innovations transforming lives

Lovot is equipped with more than 50 sensors such as thermography, microphone array, obstacle detection, and touch sensor to generate motion and emotions in real-time....

Translating words to deeds: Achieving gender parity in access to financial resources

... ...

Videos

Latest News

FACTBOX-Trump impeachment: What happens next?

Lawyers defending U.S. President Donald Trump in his Senate impeachment trial wrap up their presentation on Tuesday.Here is what to look out for next TUESDAY The presidents team says it will wrap up its presentations on Tuesday afternoon. ...

White House releases map of proposed Israeli, Palestinian state borders

Washington, Jan 28 AFP The White House released Tuesday its proposal for the future borders of Israeli and Palestinian states as part of President Donald Trumps controversial peace plan. The map shows the West Bank area containing some 15 I...

Palestinian Islamists Hamas reject Trump deal

Gaza City, Jan 28 AFP Palestinian Islamist movement Hamas immediately rejected the US Israeli-Palestinian peace proposal Tuesday, after President Donald Trump said Jerusalem would remain Israels undivided capital.We reject this deal. We won...

Iranian official dismisses Trump peace plan as one-sided "imposition"

President Donald Trumps Middle East peace plan is solely a deal between the United States and Israel, an adviser to Irans president said on Tuesday, dismissing the proposal as one of imposition and sanctions.This is a deal between the Zioni...

Give Feedback