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Rajasthan approves Rs 100 cr additional package for small businesses; provides exemptions for exporters

Credit and finance for MSMEs: Gehlot had proposed a financial package of Rs 150 crore under the ‘Mukhyamantri Laghu Protsahan Yojana’ in the 2022-23 budget to encourage MSMEs and for easy loan access to investors.

Rajasthan approves Rs 100 cr additional package for small businesses; provides exemptions for exporters
Ashok Gehlot (File Image)

Credit and finance for MSMEs: Rajasthan Chief Minister Ashok Gehlot has approved an additional financial support of Rs 100 crore for a scheme to promote small businesses, said a statement by the state’s Department of Information & Public Relations (DIPR). “This will help in the smooth operation of the scheme and increase the number of beneficiaries,” the government said. Gehlot had proposed a financial package of Rs 150 crore under the ‘Mukhyamantri Laghu Protsahan Yojana’ in the 2022-23 budget to encourage MSMEs and for easy loan access to investors.  

“Approval of about Rs 58 crore was already given earlier for the scheme. In pursuance of the announcement, CM Gehlot approved an additional budget provision of Rs 100 crore. Considering the popularity of the scheme, the provisional budget has been increased,” the statement said on Saturday.

Meanwhile, Gehlot on Saturday also approved a proposal for multiple exemptions to boost local exporters. According to a statement, the reimbursement amount to be received by exporters under the reimbursement scheme for participating in international trade fairs, exhibitions and business service management (BSM) has been increased to 50 per cent from 30 per cent. The period of the scheme has also been extended till March 31, 2025. 

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“A provision of Rs 10 lakh has been made to Rajasthan Export Promotion Council for reimbursement of participation fee paid in various events by the delegation appointed by the exporters of the state abroad to encourage the export of their products,” the statement read. Moreover, exporters registered under the Rajasthan Export Promotion Council, who have MSME and IEC code, will be able to benefit from the scheme.

The announcement comes days after Rajasthan’s Industries and Commerce Minister Shakuntala Rawat launched the state’s MSME Policy 2022 to enhance the contribution of MSMEs to the state’s GDP as well as exports. The policy aims at setting up 20,000 new MSME units with a cumulative investment of Rs 10,000 crores and employment generation for 1 lakh people, said a DIPR statement.

Also read: Only 5.8% of women MSMEs got govt help during pandemic: ICRIER report

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