ADVERTISEMENT

Punjab to have MSME cell, Rs 100 cr startup fund

Punjab to have MSME cell, Rs 100 cr startup fund

Published
Hot News
2 min read
Punjab Chief Minister Captain Amarinder Singh. (File Photo: IANS)
Punjab Chief Minister Captain Amarinder Singh. (File Photo: IANS)
Punjab Chief Minister Captain Amarinder Singh. (File Photo: IANS)
Chandigarh, Dec 6 (IANS) Punjab Chief Minister Amarinder Singh on Friday announced to have a dedicated MSME marketing cell and the establishment of a Rs 100 crore startup fund.
The marketing cell will work for forming trade linkages for state MSMEs, said an official spokesperson, giving details of various decisions taken by the Chief Minister after two days of deliberations during the Progressive Punjab Investors Summit 2019 in Mohali near here.
Giving details of the startup fund, he said it would be set up by the state in partnership with IKG Punjab Technical University, for the promotion of incubators, providing seed or scale up funding to startups. Of this, 25 per cent would be used to promote Scheduled Castes and women entrepreneurs.
In a major reform measure, responding to the industry's concerns about the interference by regulatory bodies for environment and pollution, Amarinder Singh has also decided on auto consent to the green category industry on intimation.
With this, the state will do away with inspection by any regulatory body and consent would be given to the industry the same day of intimation, said the spokesperson.
To encourage the non-paddy based agriculture processing sector to wean the farmers away from paddy, thereby saving water and preventing air pollution from stubble burning, the Chief Minister has decided on certain amendments to the GST reimbursement policy in this regard.
Based on his discussions with the UAE delegation, led by their Ambassador to India, Amarinder Singh has directed Invest Punjab to immediately establish a dedicated UAE desk at their office, said the spokesperson.
In response to concerns and demands raised by the industry to boost ease-of-doing business, Amarinder Singh has decided on giving permission for sale of independent floors in apartment buildings. He has also agreed to bring in a land leasing law, as urged by industry, at the earliest.
--IANS
vg/skp/

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)

We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.

Liked this story? We'll send you more. Subscribe to The Quint's newsletter and get selected stories delivered to your inbox every day. Click to get started.

The Quint is available on Telegram & WhatsApp too, click to join.

ADVERTISEMENT
ADVERTISEMENT
Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!
ADVERTISEMENT