Jammu, Feb 04: Deputy Chief Minister Surinder Chaudhary on Wednesday said that the government has undertaken numerous initiatives to improve cash flow, address financial stress and strengthen economic resilience of industrial units, MSMEs, artisans, weavers and farmers of Jammu and Kashmir.
The Deputy Chief Minister was replying to a question raised by Legislator Waheed ur Rehman Parra in the House.
He added that the government has launched the JKMSME Health Clinic as an institutional mechanism to identify early signs of industrial stress using analytics and facilitating systematic assessment and customized remedial measures for revival.
He said that access to finance has been further strengthened under the Raising and Accelerating MSME Performance (RAMP) programme through enhanced linkage with the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
The Deputy Chief Minister said that the J&K Industrial Policy 2021–30 continues to provide multiple incentives, including turnover and SGST incentives, green initiatives, 100% subsidy on diesel generator sets, exemptions from stamp duty and court fee besides subsidies for quality certification, automation and pollution control.
He said that the revival and rehabilitation of sick MSMEs are being guided by the RBI’s Framework for Revival and Rehabilitation of MSMEs, enabling restructuring of liabilities and need-based financial assistance.
He said that GI-certified unit holders are also being provided rent-free stalls and full support for participation in exhibitions. Additionally, master craftsmen facing indigent circumstances receive monthly assistance under the Direct Benefit Scheme.
Further, he said that the Agriculture Infrastructure Fund (AIF) and Animal Husbandry Infrastructure Development Fund (AHIDF) are promoting long-term investment in agriculture and livestock infrastructure through interest subvention and credit guarantees.
