Tamil Nadu Minister for Micro, Small and Medium Enterprises (MSME) T.M. Anbarasan (third right) distributing assistance under government schemes to entrepreneurs at a function in Coimbatore on Thursday, August 29, 2024.
| Photo Credit: S. Siva Saravanan
The District Industries Centres have been directed to encourage more manufacturing-oriented projects for loans through government schemes, said T.M. Anbarasan, Minister for Micro, Small and Medium Enterprises (MSME), Tamil Nadu.
Speaking to the media after disbursing subsidies for bank loans provided under various State government schemes, Mr. Anbarasan stated that officials have been instructed to ensure that 3% of the beneficiaries of loan schemes are manufacturing industries. This directive will be implemented in the coming days.
Regarding the demand from MSMEs to reduce fixed electricity charges, the Minister highlighted that the Department paid ₹300 crores last year and ₹350 crores this financial year towards electricity charges for MSMEs to alleviate the burden of high power costs. He added that networking charges were reduced by 50% for units installing solar energy panels. “We are doing our best. I held two or three meetings with the industries… We will take up the issue with the Chief Minister when he returns from his US trip and try to resolve it,” he said.
On the change of tariff from III B to III A (1) for MSMEs, MSME Department officials noted that Tangedco is asking units to submit applications for the change based on TNERC orders. However, the MSME Department is working with the Energy Department to ensure eligible MSME units are placed in the correct tariff category without needing to submit individual applications.
Addressing the challenges faced by beneficiaries in securing bank loans, the Minister mentioned that retired bank officials have been involved to liaise with banks and ensure loans are disbursed to the beneficiaries.
Mr. Anbarasan further noted that since the DMK came to power in 2021, ₹961.58 crore have been disbursed as subsidies under five schemes for loans totalling ₹2,615.30 crore, creating 30,324 entrepreneurs and generating three lakh jobs in the State. Additionally, eight industrial estates spread over 512 acres were inaugurated with an investment of ₹295 crore, and eight more are under development in seven districts, covering 248.1 acres with ongoing development work costing ₹115.53 crore. Another 10 estates are being planned across 253.4 acres, he said.