Shot in the arm for flailing MSMEs as CM announces set up of nodal agency

Aims at attracting investments to TN, seeking foreign collaboration, globalising industries

Published: 14th June 2018 04:21 AM  |   Last Updated: 14th June 2018 04:21 AM   |  A+A-

Chief Minister Edappadi K Palaniswami interacting with the students of the newly opened Police Public School at Oonamancherry near Vandalur on Wednesday

By Express News Service

CHENNAI: Announcing a slew of measures to improve micro, small and medium enterprises (MSME), Chief Minister Edappadi K Palaniswami on Wednesday announced in the Assembly setting up of a nodal agency for investment development and single window clearance.

Making an announcement under Rule 110 soon after the question hour, he said, “A micro, small and medium industries trade and investment development agency will be set up to attract investments to Tamil Nadu, seek foreign collaboration and globalise the State’s MSME industries.”

The nodal agency would also function as coordinating agency for implementing single window clearance system for MSME sector ensuring swift and timely approval, besides developing domestic, foreign investments and entering into agreements with trade bodies, industries’ organisations and those evolving investment policies.

He also informed the House that a Tamil Nadu Innovation Policy 2018-2023 would be evolved and implemented to facilitate talented individuals and entrepreneurs to give shape to their innovative initiatives with an aim of achieving 11 per cent gross State domestic production as envisagedin Tamil Nadu Vision- 2023.

Creating infrastructure at the under construction industrial park spread over Kannudaiyanpatti, K Periyapatti and Chatrapatti in Tiruchy district at a cost of Rs 96 crore and Rs 52.50 crore for similar infrastructure at another industrial park to be created in Pelakuppam, Kollar and Venmaniathur villages in Tindivanam, he said.

Close to 50,000 MSMEs had closed down in the State in just one year.

Pay hike for special teachers

Palaniswami said the honorarium paid for special teachers employed at the non-governmental organisations run for the mentally challenged, hearing and visually impaired persons will be hiked to Rs 14,000 from Rs 10,000 incurring an expenditure of Rs 5.42 crore to the exchequer.

He said the government would provide Rs 25,000 as grant to the differently abled persons who have to provide the same sum as deposit with Aavin to set up stalls.

Rs 11,000-cr loans will be given to SHGs
Chennai: A total of Rs 11,000 crore loans would be offered in this fiscal year to Women Self Help Group members, Chief Minister Edappadi K Palaniswami announced in the Assembly on Wednesday. This was part of the slew of announcements under rule 110 in the Assembly. A total of Rs 41,180 crore was distributed as loans to women self help groups over the last seven years. 

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