Visakhapatnam: Release of incentives to MSMEs hailed

Visakhapatnam: Chief Minister YS Jagan Mohan Reddy provided a relief to MSMEs by depositing money into accounts of MSMEs, said PCC secretary Mula Venkata Rao.

He said it was a timely action by the Chief Minister and it would help in the revival of industries and help them overcome Covid-19 blues.

The decision of the Chief Minister is most welcome as it comes at a time when the entrepreneurs lost all hopes on reopening industries, because of the precarious financial conditions in the wake of lockdown.

Timely release of funds by the government would be useful for clearing pending wages to staff, procuring raw materials and pay EMIs, he said.

Venkata Rao urged the State government to form Migrants Commission for AP migrants and ensure employment, insurance coverage and social security to them. He said the release of incentives to MSMEs as Sanjeevani which would help in revival of the units.