Andhra Pradesh government plans additional support to save sick MSMEs

Ease of Doing Business for MSMEs: “As the COVID pandemic had an adverse impact on several sectors, including MSMEs, Chief Minister YS Jagan Mohan Reddy has directed us to take a study of the MSMEs so as to extend the required support. Accordingly, we are taking up the survey to identify the condition of MSMEs,” said Vanka Ravindranath, MSME Development Corporation Chairman.

Andhra Pradesh government plans additional support to save sick MSMEs
Even as the Center keeps carrying out schemes to assist MSMEs, promoters are unable to benefit from them due to a lack of awareness, he said. (Image: pixabay)

Ease of Doing Business for MSMEs: In an effort to further support sick MSME units in the state, the Andhra Pradesh government is undertaking a survey of around 2.50 lakh MSMEs to come across units in need of various kinds of support including financial, raw material, marketing, etc., The New Indian Express (TNIE) reported. MSME Development Corporation Chairman, Vanka Ravindranath told TNIE that they have set out a district-wise survey under the initiative.

“As the COVID pandemic had an adverse impact on several sectors, including MSMEs, Chief Minister YS Jagan Mohan Reddy has directed us to take a study of the MSMEs so as to extend the required support. Accordingly, we are taking up the survey to identify the condition of MSMEs,” Ravindranath said.

He added that the government is holding the survey to provide the necessary support to MSMEs and to ensure that they don’t shut down. The state had offered incentives to small businesses earlier and is now looking to dole out more incentives in August, he said.

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The government is identifying sick MSMEs by evaluating their Goods and Services Tax (GST) returns for three consecutive years from 2019-20 to 2021-22 for officials to analyse the cause and provide the required help from the government for their survival, Ravindranath noted.

Even as the Center keeps carrying out schemes to assist MSMEs, promoters are unable to benefit from them due to a lack of awareness, he said. “We are now sensitising them about various schemes for MSMEs,” he explained.

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