Andhra Pradesh govt to release first tranche of Rs 450 crore package to MSMEs on Friday

By: |
Published: May 19, 2020 9:10:20 PM

The second tranche of Rs 454 crore will be cleared on June 29, the Andhra Pradesh government said in a statement.

andhra pradesh govt, msme, covid 19, coronavirus, lockdownEarlier in the month, the state government had announced it will clear 50 per cent of all pending industrial incentives of Rs 904 crore.

To help reopen MSMEs amid COVID-19 crisis, the Andhra Pradesh government on Tuesday said it will clear the first tranche of pending incentives of about Rs 450 crore to micro, small and medium enterprises (MSMEs) this week.

The second tranche of Rs 454 crore will be cleared on June 29, it said in a statement.

Earlier in the month, the state government had announced it will clear 50 per cent of all pending industrial incentives of Rs 904 crore to the MSMEs to encourage them to reopen their business affected due to the lockdown, clamped to prevent the spread of the virus.

“On May 22, 1st installment of Rs 450 crore of industrial incentives will be released to MSMEs,” the statement said.

Also Read: 40-day full lockdown impact on Flipkart ‘negatively’ affects Walmart International’s growth in Q1 2020 

Besides this, the state government on May 26 will distribute a one-time special financial aid of Rs 5,000 to priests, imams, and pastors, who are performing daily poojas and rituals during the lockdown.

On May 30, the government said it will launch Rythu Bharosa Kendras. These units will serve as a one-stop shop to all agriculture and allied fields to benefit farmers.

Whereas in June, the state government has decided to launch Rs 10,000 crore YSR Vahana Mitra scheme on June 4 to give financial assistance to auto rickshaw and cab drivers.

Another new scheme Jaganna Chedodu programme is scheduled to be launched on June 10. The plan aims to provide Rs 10,000 per annum financial assistance to Nayi Brahmins, tailors and Rajakas operating small businesses.

On June 17, the state government said financial assistance under YSR Nethanna Nestham scheme will be provided to weavers. On the same day, all pending bills of the Andhra Pradesh State Handloom Weavers Cooperative Society (APCO) will be cleared, the statement added.

On June 24, the government is scheduled to give a sum of Rs 15,000 per annum to Kapu community women between the age of 45 and 60 years under YSR Kapu Nestham scheme.

Likewise, the YSR Congress Party (YSRCP) government in the southern state has released dates for implementation of key government schemes and measures for each month till March 2021.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1‘Govt must replace red-tapism with red carpet to attract firms exiting China and for MSMEs to benefit’
2Paytm claims telecom firms not preventing phishing; HC seeks Centre, Trai response
3PM Modi’s Rs 3 lakh crore MSME loan scheme sanctioned this much amount in just one day