Dy CM: ₹100cr in next yr’s budget for innovative biz, entrepreneurs

GURGAON: The state government is planning to allocate a budget of Rs 100 crore in the financial year 2024-25 to promote innovative businesses and entrepreneurship in the state.
Deputy chief minister Dushyant Chautala made the announcement during the ‘MSME Samvad’ conducted by the Associated Chambers of Commerce and Industry (ASSOCHAM) in the city on Friday.
The allocated funds will be utilised for new innovative incentives, setting up incubation centres, and assistance for loans, all aimed at fostering balanced regional development and nurturing entrepreneurship among youth in the state, he said.
“The Haryana MSME sector targets at attracting investment of over Rs 1 lakh crore and generating 5 lakh jobs in the state to fulfill the aim of Aatmanirbhar Bharat,” Chautala said.
He further informed that the state has received registrations from more than 2.8 lakh MSMEs in the past five years on the Udyam portal. These MSMEs are employing over 15 lakh people at present. Haryana is ranked first in the registrations in north India on Udyam portal, the platform for MSMEs to get recognised by the government and gain benefits.
Among the northern states, Haryana has ranked top in the registrations on Udyam portal, the platform for MSMEs to get recognised by the government and gain benefits.
The state government has also decided to set up a venture capital fund of Rs 200 crore for entrepreneurs in three categories — women, scheduled caste, and economically weaker section — under its ambitious Programme to Accelerate Development for MSME Advancement (PADMA) scheme.
State additional chief secretary (industries and commerce) Anand Mohan Sharan said that Haryana has the maximum number of schemes for the MSMEs in India as a majority of the state’s GDP is generated through small businesses.
“Multiple focus areas include MSME manufacturing and innovation policies, medical devices policies and electronic policies. The PADMA scheme initiates acceleration of small businesses and the state government is adamant on implementing them all,” he added.
“The state has a hospitable ecosystem for more MSMEs to come up,” ASSOCHAM chairman Vijay Sharma said.