Recently, the Ministry of Micro, Small and Medium-sized Enterprises (MSMEs) launched the Special Credit Linked Capital Subsidy Scheme (SCLCSS) for the services sector.
- The scheme will help in meeting the technology-related requirements of enterprises in the services sector.
- It has a provision of 25% capital subsidy for procurement of plant and machinery and service equipment through institutional credit to the Scheduled Caste – Scheduled Tribe MSMEs without any sector-specific restrictions on technology up-gradation.
- It will facilitate technology up-gradation to MSEs, improvement in Quality of services by MSMEs, enhancement in productivity, reduction in waste and shall promote a culture of continuous improvement.
- It will also promote the innovation, digital empowerment and design interventions of MSMEs.
- Credit Linked Capital Subsidy Scheme for Technology Upgradation:
- It was launched in 2000.
- The objective of the Scheme is to facilitate technology up-gradation in MSEs by providing an upfront capital subsidy of 15% (on institutional finance of upto Rs 1 crore availed by them) for induction of well-established and improved technology in the specified 51 sub-sectors/products approved.
- In other words the major objective is to upgrade their plant & machinery with state-of-the-art technology, with or without expansion and also for new MSEs which have set up their facilities with appropriate eligible and proven technology duly approved under scheme guidelines.
SOURCE: THE HINDU,THE ECONOMIC TIMES,MINT