Haryana approves interest benefit scheme for MSMEs
CHANDIGARH: The Haryana cabinet has approved a scheme to support MSME and help these units pay wages to employees and retain them.
The scheme will remain in force for three months after its notification.
Additional Chief Secretary, Finance, TVSN Prasad said that as per the Haryana MSME revival interest benefit scheme, all MSME units as on or before March 15 will be eligible for 100% interest benefit on loans availed for payment of wages to employees.
This interest benefit will also be available on other expenses up to Rs 20,000 per employee for six months, Prasad said.
The interest benefit will be calculated at the rate of maximum 8% per annum or actual interest rate charged by the bank / financial institution on term loan/ working capital loan, whichever is lower.
To avail the benefits of this scheme, the industrial unit should have been in commercial production for at least 80% of days between February 1 and
March 15, 2020.
The unit should have filed industrial entrepreneur or Udyog Aadhaar memorandum after coming into commercial production. It should obtain or have obtained term loan or working capital loan from a bank or financial institution during the lockdown period within one month from the date of getting permission to restart or till June 30, whichever is later.
In case a similar incentive is extended by the central government to the MSME units, then only incremental benefit will be provided to the units.
TO HELP THESE UNITS PLAY THEIR EMPLOYEES’ WAGES AND RETAIN THEM AMID THE LOCKDOWN