MANU/PIBU/4899/2021

Department/Board : Press Information Bureau

Date : 09.12.2021

Promotion of MSMES

As informed by Department for Promotion of Industry & Internal Trade (DPIIT), as part of the 'Start-up India' initiatives the Government has provisioned the following financial assistance and incentives for start-ups across the country including in the state of Tamilnadu:

i. Start-up India Seed Fund Scheme (SISFS)

ii. Fund of Funds for Start-ups (FFS) Scheme

iii. Ease of Procurement

iv. Income Tax Exemption for 3 years

v. Exemption for the Purpose Of Clause (VII)(b) of Sub-section (2) of Section 56 of the Act

vi. National Start-up Awards

As informed by Small Industries Development Bank of India (SIDBI), SIDBI has entered into a collaboration with Google India Private Limited (GIPL) on November 18, 2021, for having a pilot social impact lending programme with a corpus of approx. Rs. 110 crore (equivalent to USD $15 million) targeted at Micro enterprises with a turnover upto Rs. 5.00 crore.

As informed by SIDBI, the following programmes were launched by SIDBI to help and revive the MSME sector across the country including the State of Tamil nadu:

In April 2021, another tranche of Rs. 15,000 crore was granted by RBI to meet the funding requirements of micro, small and medium enterprises (MSMEs) in FY 2022.