CHENNAI: In a bid to strengthen the state’s MSME sector, MSME Minister TM Anbarasan announced a Rs 100-crore Credit Guarantee Scheme aimed at easing financing constraints and driving industrial growth across the state. The scheme is expected to reduce risk for financial institutions and improve formal sector credit access for small businesses still facing liquidity challenges.
The minister, while speaking at the discussion for the budget demand for MSME department on Wednesday, emphasised the sector’s resilience amid pandemic disruptions and GST payment delays in 2021-22, noting the state’s strong recovery.
The minister said Rs 20 crore has been set aside for skill development, research and innovation, and inclusive entrepreneurship, with a focus on supporting under-represented groups, including women and first-generation entrepreneurs.
A new policy is being developed to support first-time entrepreneurs in aspirational districts by providing financial aid, mentoring, and incubation support.
Vanathi seeks schemes for migrant labourers
Chennai: BJP MLA Vanathi Srinivasan raised demands concerning the welfare of migrant workers and woman employees during the debate on Wednesday.
Drawing attention to the high number of migrant workers employed across the state and the Kongu region, Vanathi urged the state to frame comprehensive welfare schemes to ensure their safety, healthcare and proper accommodation.
She also emphasised the need for establishing hostel facilities for the employees. Minister TM Anbarasan said all suggestions will be considered.