Prime Minister YS Jagan Mohan Reddy released the second tranche of incentives for Rs. 512.35 crore today (29 June). He said it was an attempt to resume MSMEs in Andhra Pradesh.
The YCP government has given top priority to the development of MSMEs to stimulate growth. MSMEs have a major impact on job creation and improving the standard of living. But the shutdown has had a negative impact on this sector, and YS Jagan Mohan Reddy spent Rs 450 crore in May to help MSMEs overcome the crisis.
The second tranche of incentives for MSMEs
Now, AP CM has released Rs. 512.35 crores as a second tranche of incentives for MSMEs. CMO Andhra Pradesh tweeted, “As part of efforts to restart MSME operations in AP, Hon’ble CMysjagan released the second tranche of incentives of Rs. 512.35 crore today. The first batch of Rs 450 crore was issued in and has benefited 97,428 units of MSMEs across the state. “
Speaking of a reboot package, YS Jagan Mohan Reddy said that more than 10 lakhs operate in about 98,000 MSME units in the state. The state’s economy is not feeling well, but his government has launched a restart package of Rs. 1,168 crore to help MSMEs in the state.
YS Jagan Mohan Reddy added, “As I promised, our government has issued Rs. 827 crore for MSMEs so far. We have planned to give away a total of Rs. 1168 crore to restart the operations of MSMEs. I will focus on the following yarn plants year.” Officials said there are some outstanding things. I would like to assure you that I will try to help the mill factories division next year, too. “
The TDP government owed around Rs. 800 crore for MSMEs in subsidies. The current government settled these fees and waived the fixed energy fees for a period of three months amounting to Rs 188 crore. Besides, working capital loans in the range of Rs 2 lakh have been offered to £ 10 lakh at 6% to 8% interest, according to The Hindu.