YS Jagan hailed for fillip to MSMEs

Amaravati: MLA K Abbaya Chowdary hailed Chief Minister YS Jagan Mohan Reddy for initiating the second tranche of restart package to the MSME sector and stated that the Chief Minister is on a mission to develop AP as an Industrial gateway to South-India.

Addressing a press conference on Monday, MLA Abbaya Chowdary said that the State government released the first installment of Rs 450 Crore in May under restart package and also waived off all the minimum power demand charges of MSMEs during the months of April, May, and June which amounted to Rs 188 crores. While the previous government left a debt of over Rs 4000 crore in the industrial sector, our government is striving to clear the debts. During TDP rule, almost Rs 828 crores of industrial incentives were held back. In order to strengthen the MSME sector during this economic crisis, the State government came up with a reviving package to boost the MSMEs and to create employment, he said.

He stated that over 97,428 MSMEs were established in the State which  employ about 10 lakh workforce. With this supportive initiative, over 72,531 micro-enterprises, 24,252 small and 645 medium scale industries are being benefited with the restart package.

He  said that almost 65,000 employment opportunities have been created through 39 companies in just a span of one year. In addition to this, the State government allocated 1,600 acres for establishing 1,466 companies which include 23 prominent business houses. In addition to these, eight new industrial units have come forward to invest Rs 7,916 crore and are expected to create 4,000 jobs. 

“Apart from the social reforms, even industrial development is being prioritized by the State government to boost the economy and create employment opportunities. Under the dynamic leadership of Chief Minister Jagan Mohan Reddy, Andhra Pradesh is set to have an industrial revolution and thus plans to develop each district with a suitable industrial cluster. Special focus was laid on food processing units, where the Chief Minister provided a grant of Rs 58 crore under the restart package. Unlike the previous government, we are providing corruption-free governance and enhancing the single-window clearance system for the industrialists.” he added

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