Government to continue credit linked capital subsidy scheme

Last Updated: Wed, Feb 13, 2019 23:40 hrs

New Delhi, Feb 13 (IANS) The Central government will continue the "Credit Linked Capital Subsidy and Technology Upgradation Scheme" for micro, small, and medium enterprises (MSMEs) beyond the 12th Plan period for three years from 2017-18 to 2019-20.

The Cabinet Committee on Economic Affairs on Wednesday approved the continuation of the scheme with a total outlay of Rs 2,900 crore.

"This scheme aims at improving the competitiveness of MSMEs by integrating various ongoing schematic interventions aimed at upgrading technology through Credit Linked Capital Subsidy (CLCS), hand holding for zero defect zero effect manufacturing (ZED), increasing productivity through waste reduction (Lean), design intervention (Design), cloud computing (Digital MSMEs),facilitation of intellectual property (IPR) and nurturing new ideas (Incubation)," an official statement said.