Chennai

Vellore entrepreneurs welcome capital subsidy increase

The Vellore District Micro and Small Entrepreneurs Association (VDMSEA) has welcomed the budget proposal for an increase in subsidy for investments in MSMEs.

In a press release issued here, VDMSEA president M.V. Swaminathan said that with the announced increase of capital subsidy — to ₹50 lakh from the existing ₹25 lakh — the total subsidy amount has touched ₹50 lakh.

Allocation of 100 cr.

Subsidy on interest rate has been increased from the existing 3% to 5%. Allocation of ₹100 core for the budget estimate of 2020-21 is welcomed he said, adding that it would give a boost to small business entrepreneurs in the State.

Article source: https://www.thehindu.com/news/cities/chennai/vellore-entrepreneurs-welcome-capital-subsidy-increase/article30824414.ece

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