20 hours ago
- Business
- New Indian Express
Micro-entrepreneurs seek swift processing of application for machinery subsidy in Tamil Nadu
COIMBATORE: The state government has been urged to expedite the application process for providing a subsidy to MSME units to buy machinery with a subsidy. The Tamil Nadu Association of Cottage and Micro Enterprises (TACT) claimed that it takes almost two years to complete the process now.
J James, the president of a Coimbatore-based association, said loans are required to buy advanced machinery and the 25% subsidy offered by the state government in this regard is helpful but it is difficult to get this financial benefit.
"Due to the various rules and practical difficulties in obtaining subsidies, genuine micro-entrepreneurs are finding it very difficult to obtain the papers and various certificates requested by the officials during the inspection. The state government should simplify the procedures for obtaining the subsidy," he stated.
Explaining the necessity of buying new and advanced machinery, James said, "Micro-entrepreneurs take up job orders and supply spare parts. They rely on orders from various companies to operate their businesses. But many have not received orders for 12 months due to the severe crisis in the manufacturing sector.
