Srinagar MSME unit holders receive Rs 2.77 Cr incentives

6 July 2023

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SRINAGAR JULY 06: In order to sensitize Micro, Small & Medium Enterprises (MSME) Unit Holder and other stakeholders about the benefits of UDYAM Registration, the District Administration Srinagar Thursday organized an awareness workshop on UDYAM Registration for MSMEs here at Meeting Hall of the DC Office Complex.

Deputy Commissioner (DC) Srinagar, Mohammad Aijaz Asad was the Chief Guest on the occasion who also kick-started the Employment Generation Campaign “Swarozgar Utsav” for providing gainful self-employment to youth of District.

On the occasion, the DC handed over sanction letters to the tune of Rs 2.77 Crore among 47 beneficiaries of Srinagar District under different self-employment schemes for setting up business Units.

The workshop witnessed a large participation from the MSME Unit Holders of Industrial Estates of Srinagar District.
While General Manager DIC, Chief Planning Officer, Lead District Manager, Cluster Head J&K Bank, representatives from all Banks operating in Srinagar District.

During the programme the participants were briefed about the benefits of online UDYAM Registration for Micro, Small & Medium Enterprises(MSMEs) and were given thorough instructions through a detailed PowerPoint presentation on how to get registered on the UDYAM Portal.
Addressing the Workshop, the Deputy Commissioner stressed on extending hassle-free credit facility to the MSME unit holders through ease of doing business to boost the MSME sector.

The DC also asked the Banks and other line Departments to ensure proper counselling and guidance facilities for MSME unit holders with regard to UDYAM Registration. He further asked them to work in proper interdepartmental coordination for implementing all Government schemes aimed at entrepreneurial development, employment generation and poverty alleviation.

With regard to the Employment Generation Campaign “Swarozgar Utsav”, the DC asked the concerned to carry forward the campaign in every Panchayat and Municipal Wards of Srinagar District from today that shall culminate on September 30, 2023.

He said “Swarozgar Utsav” campaign is aimed to saturate self-employment generation initiative to provide each unemployed a sustainable and profitable livelihood.

It was also stated that the benefits derived from UDYAM Registration include Collateral free loans from Banks, Protection against delayed payments, against material/ services rendered, Ease of obtaining registrations, licenses and approvals, MSME Registered entity gets eligible for Credit Linked Capital Subsidy Scheme(CLCSS), Proposed 30%-50% CIS as per New Industrial Policy, International Trade Fair Special consideration, Government Security Deposit(EMD) waiver, Stamp Duty & Registration fee waiver, ISO Certification fees reimbursement, Direct Tax Laws Rules exemption, NSIC performance and Credit rating fees subsidy, Patent Registration subsidy, Barcode registration subsidy, Industrial Promotion Subsidy(IPS) eligibility.