FM discusses SFC revival package
GK NEWS NETWORK
Jammu, Mar 9: Minister for Finance and Ladakh affairs, Abdul Rahim Rather today discussed the revival package of State Financial Corporation (SFC), at a high level officers meeting. The report has been drafted by the Union Ministry of Micro, Small and Medium Enterprises (MSME), in light of the recommendations of Prime Minister’s task force constituted for the purpose, an official statement said. Union Secretary for Ministry of Micro, Small and Medium Enterprises, Denish Rai was also present in the meeting. The meeting decided that issues relating to debt settlement of the SFC would be worked out expeditiously so that the corporation could be brought back into the track to perform its enshrined role.
The report has recommended Special package for J&K as has been provided to the North East region under NEIIPP-2007 in respect of interest subsidy scheme and Comprehensive Insurance Scheme. However, under capital investment scheme, the subsidy provided under J&K package is 15% of the investment in plant and machinery subject to a maximum of Rs.30 lakh, whereas under NEIIPP-2007, it is provided @ 30% of the investment in plant and machinery and there is no upper limit for claiming subsidy. For the MSME sector in J&K, the capital investment subsidy scheme may be implemented on the same terms and conditions and applicable to the north east region under NEIIP- 2007 after modification. In addition to it under the MSME sector subsidy may be allowed for first and subsequent expansion till the total investment in plant and machinery reaches the upper ceiling of Rs. 10 crore as per MSME norms.
Lastupdate on : Tue, 9 Mar 2010 21:30:00 Makkah time
Lastupdate on : Tue, 9 Mar 2010 18:30:00 GMT
Lastupdate on : Wed, 10 Mar 2010 00:00:00 IST
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