Saturday, October 04, 2014: On Tuesday, a draft of new MSME policy has been finalised by a three-member committee headed by Uttarakhand medium, small and micro enterprises (MSME) Minister Harish Chandra Durgapal. This new policy is aimed to boost small enterprises and offer sops to more than 40,000 small units in the state. The new policy is also designed to attract news projects in the state.
A meeting was conducted at the Vidhan Sabha in Dehradun and after a series of suggestions from various business segments, the draft was finalised. As told by a senior government official, the draft is ready to be sent to the Cabinet for the final approval. The government will now focus on creating a land bank for MSMEs to set up units at reasonable prices, as reported by Business Standard. There is already a policy under the hill promotion policy 2008 which offers impressive incentives for MSMEs.
The incentives under the new MSME policy will be similar like that of the hill promotion policy but the new one will be implemented in the single window system. This system came into force this year. As explained further by additional director of MSME department, S C Nautiyal, the clearances will be given under the single window system. Last year the Uttarakhand government was not sure about a new MSME policy but later it was decided that such a policy is highly required following last year’s natural disaster, which has affected the state’s economy to a large extent.
