CM Khattar announces Rs 1000 cr corpus for startups

GURGAON: In a major boost to the start-up ecosystem, chief minister Manohar Lal Khattar today announced a corpus of Rs 1000 crore for start-ups in the state. Apart from this, a Rs 1000 crore fund is being created under the CGTMSE for providing collateral-free loan service to the small scale units. "The focus of the state government in the coming year will be on generating employment for 2,00,000 people which can be accomplished only through entrepreneurship and industries,” said Khattar.
The minister said that the state government is adopting the concept of cluster for the development of entrepreneurs specially the Micro, Small and Medium Enterprises (MSME).As many as 19 clusters have been identified for development and creation of common facility centres for testing, skill development, marketing and other necessary support.
In the 22 months of Khattar government 60 big and 7785 small and medium enterprises have been set up. The total investment in these business ventures has been to the tune of Rs, 8013 crores along with employment generation for 1.4 lakh people approximately. The state government has classified the different regions in the state in four different categories as per the level of industrialisation. And special measures are being taken to push for investments in regions in the C&D category.
“It is due to the government’s various measures that the Haryana has gone up in the DIPP rankings of ease of doing business from 15 to 5,” said Khattar. He was speaking at the event Growth of SME-Role of Capital Market’ organized by BSE in Gurgaon organised by Bombay stock exchange in Gurgaon on Saturday. The event was organised to create awareness among the MSMEs about the benefits of listing with BSE sme which is a BSE platform for MSMEs.
“Haryana as a state has lot of potential given the number of MSME ventures in the state. However of the 140 companies listed on BSE sme, only three are from Haryana unlike states like Gujarat, “said a BSE spokesperson. BSE with the help of state government will educate the MSME about the benefits of listing and how it can help them bring down the rate of interest on their loans by proper maintenance of books of account.