The Government is promoting micro, medium and small scale enterprises (MSMEs) through its various schemes. There are schemes of Central as well as of State Government for the sector and entrepreneurs should take advantage of it, said CA Julfesh Shah on Sunday. He was addressing the participants at the session organised by Vidarbha Management Association (VMA) at Chitanvis Centre. Shah further said, “Loans are available for new entrepreneurs at low interest rates without collateral. Besides, huge discounts are also available for them. Even 100 per cent subsidy is also available for the entrepreneurs for some items,” he highlighted.

Apart from this, there are separate schemes for women. They are given more benefits. But, despite all this, the number of women entrepreneurs in the total MSME sector of the state is only 9 per cent. The Government is trying to take this number to 20 per cent,” said. Shah expressed concern over lack of awareness among the entrepreneurs about the schemes and said the number of beneficiaries is very less. About 92 per cent of the country’s industries, businesses, services are eligible for benefits under the schemes meant for MSMEs, he added. “Maharashtra has the best policy for the MSMEs as compared to other states. Many entrepreneurs are availing it but the number of beneficiaries could be increased,” he said. Shah said that the Maharashtra Government is likely to come out with new policy for the sector next year.

Shah advised the aspirants to take advantage of the schemes and set up the industry as soon as possible. There are unlimited opportunities for employment generation in MSMEs. The existing MSME Policy is 17 years old and some of its provisions are now outdated. Due to this, a new policy will be prepared and a committee has also been formed for it. The new policy is likely to come into effect in 2024.