J&K sees closure of 700 micro, small scale industrial units in past 4 years

Jammu: Over 700 industrial units including micro and small scale units under Micro, Small and Medium Enterprises (MSMEs) Udyam have been closed since last four years in Jammu and Kashmir.
The written reply by Piyush Goyal minister of Commerce and Industry in Lok Sabha on the closure of industrial units has stated that the subject of Industries is primarily under the domain of State Governments. The Government maintains the data in respect of closure of Micro, Small and Medium Enterprises (MSMEs).
As per data a total of 701 industrial units including 697 micro and four small scale units have been closed under Micro, Small and Medium Enterprises (MSMEs) Udyam from 1.7,2020 to 15.11.2024 in Jammu and Kashmir. Across the country a total of 61, 469 units were closed including 60,909 micro, 507 small and 53 medium scale industries in the same period.
The reply further states that Government has taken a number of initiatives like the Make in India, Production-Linked Incentive (PLI) Scheme and National Industrial Corridor Programme complimented by continued efforts for promoting Ease of Doing Business (EoDB) and reducing compliance burden to promote industrial growth. The State Government also promotes industrial development through its industrial policies, which have focus on supporting small and medium enterprises.
The Government has also taken various initiatives to provide finances for MSMEs, which inter-alia include the following: Collateral free loans up to a limit of Rs. 500 lakh (w.e.f. 01.04.2023) to Micro and Small Enterprises, with guarantee coverage up to 85 % for various categories of loans through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) under Credit Guarantee Scheme for Micro and Small Enterprises.
Under Prime Minister’s Employment Generation Programme, credit linked subsidy for setting up new micro-enterprises in non-farm sector is provided. Margin Money subsidy ranging from 15% to 35% of project cost, for projects up to Rs. 50 Lakh in Manufacturing sector and Rs. 20 Lakh in the Service sector, is provided. For beneficiaries belonging to Special categories, including women, the margin money subsidy is 35% in rural areas and 25% in urban areas, the reply said.
The Emergency Credit Line Guarantee Scheme (ECLGS) was launched in May, 2020 as part of Aatmanirbhar Bharat Abhiyaan to support eligible MSMEs and business enterprises in meeting their operational liabilities and restarting their businesses in the context of the disruption caused by the COVID-19 pandemic. The Scheme was operational till 31.03.2023. This Scheme covered all the sectors of the economy. Under this, 100% guarantee was provided to Member Lending Institutions (MLIs) in respect of the credit facility extended by them to eligible borrowers, it added.

Updated On 12/4/2024 3:02:08 AM