TN govt gives breather for MSME sector in state

Following the discussions held with the representatives of various industries on May 9, Chief Minister MK Stalin on Tuesday announced many concessions for the MSME sector as follows...

Rs 280 cr allocated towards Investment Subsidy for Micro, Small & Medium Enterprises (MSMEs) during the current financial year. 60% (Rs 168 cr) of it will be released immediately to all eligible MSME sector that are yet to get capital subsidy

1 Lakh employees in SIDCO complexes and MSME sector who are above the age of 45 will get free Covid-19 vaccination

5% interest subsidy received under CGTMSE and Technology Upgradation Scheme will be disbursed to MSME units

SIDCO plots will be allocated on fast track mode

New G.O. on revised Covid-19 treatment protocol 
Amid rising cases and people scrambling for oxygen and ICU beds, Health Department on Monday released a G.O. on revised Covid treatment protocol for the next 14 days. The protocol was formulated to treat patients at all hospitals other than medical college hospitals, government and dedicated Covid hospitals 

Deadlines pushed

• Payment of Mortgage of Deposit registration fee up to March 31 is being extended till December 2021
• All legal licenses required for MSME industries from pollution control board, fire and rescue services, labour, etc., which are scheduled to expire between May to September 2021 will be extended till December 2021 
• Exemption for the norm that sales proceeds should be increased by 25 percent for expanding MSME sector, which has been extended till March 31, will be extended till December 31, 2021
• Deadline for payment of price of SIDCO plots, instalments, and the rent for factories will be extended by six more months

MORE CONCESSIONS FOR MSMEs

Deadline for payment of Road Tax for autorickshaws and taxis will be extended by three more months

RBI will be requested to extend the deadline for payment of EMI to be paid for auto-rickshaws, call
taxis and other vehicles

Central government and IRDA will be requested to extend the deadline for payment of insurance premium for auto rickshaws, call taxis, etc., which expire in May 2021

Validity period for statutory licenses given by departments like fire and rescue services, industries & pollution control board which will expire in May 2021 will be extended by six more months 

Capital Subsidy
Being given in three instalments extended through Industries Department will be given in a single instalment

Deadline
For payment of professional tax by employees of big and small industries will be extended by three more months