AP CM YS Jagan launches 'Restart model' to strengthen MSMEs, sanctions Rs. 1110 crore

CM YS Jagan Mohan Reddy has launched a program titled 'Restart Model' for strengthening the Micro, Small and Medium Scale Industries (MSMEs). As part of this, Rs. 1110 crore will be sanctioned to the MSMEs from the government. CM YS Jagan held a video conference with representatives of small and middle class industries at the Tadepalli Camp office on Friday. Minister Mekapati Gautam Reddy participated in the event.

CM YS Jagan has given full assurance to the micro, small and medium enterprises of the state. CM YS Jagan assured that the government is ready to help the industry managers to overcome any difficulties. "There is a need to protect the small and medium-sized enterprises. As part of this, the government has been paying back the dues of the last government subsidy and the electricity tariff has been waived for three months as industries are shut down due to the lockdown, " the CM said. The small and medium-sized enterprises will find employment locally.

CM instructed collectors to identify how skilled workers the industry needs. In addition to the Rs 827 crore raised by the previous government, a total of Rs. 905 crore. CM has also announced that it will waive Rs 187 crore fixed electricity charges. A special fund is being set up with Rs 200 crore for management capital loans. MSMEs give only 6 to 8 per cent interest loans. It has been decided that 25 per cent of government purchases will be made from MSMEs. CM YS Jagan has decided to make payments within 45 days for such purchases.

The government has already cancelled the electricity demand charges for small and medium enterprises. The YS Jagan government's efforts to support the MSMEs are appreciated. Agro Industries spokesperson DV Raju expressed his delight at releasing the pending incentive arrears. Krishna Balaji, President of Small Scale Industries Association, thanked CM YS Jagan for issuing promotional dues and cancelling electricity charges.