Hon. Gen. Secretary's Message  

FROM THE HON. GENERAL SECRETARY

Taking up issues that concern our Members and the Micro & Small Scale Enterprises Sector and ensuring that they are addressed to the satisfaction of our Members is, if I may say so, the top 10 in our to-do list!

Accordingly, we have broached many issues at the highest level, through the newly constituted Directorate of MSME, such as reducing the processing fee of 0.75% for Credit Guarantee Scheme and collecting the same once in 5 years instead of every year at the time of renewal; ensuring timely payments are made to MSME suppliers which will otherwise create gap in working capital for them; consider extending soft loans at 4% to MSMEs and make the subsidized funding available to SMEs up to at least Rs 5 crore; enhance the ceiling limit under the Credit Linked Capital Subsidy Scheme for Technology Up-gradation (CLCSS) from the present Rs 1 crore to Rs 5 crore at 15% capital subsidy with proportional hike in the upfront subsidy cover; subsidize up to 25% of the minimum wages in the first year on unskilled and semi-skilled employees; * bring Job-works under 5% GST or completely exempt them from payment of GST, among many other issues.

Incidentally, KASSIA is pleased to inform its Members that the Government of Karnataka has announced a new Scheme under which it is offering 10% interest subsidy for 5 years to all Micro and Small Enterprises (overall investment in plant and machinery up to Rs 5 crore) who avail loan of up to Rs 5 crore from the KSFC. This will be applicable for both expansion and modernization and starting new ventures. We appeal to our Members to make maximum use of this Scheme – which incidentally, was introduced after KASSIA’s repeated pleas to the State Government for introducing a MSME-friendly initiative to help existing small units to expand or modernise their plant & machinery or to enable aspiring entrepreneurs to start an industry.

Friends, we will continue to fight for your issues and ensure that justice to our small industry fraternity,

With warm regards,
RAVIKIRAN KULKARNI
HON. GENERAL SECRETARY

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