14 December 2019

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Rs.300 Crore equity for NSIC

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Virbhadra SinghThe government has decided to infuse an equity of Rs 300 crore into National Small Industries Corporation (NSIC) in the next three years to provide marketing support to small-scale sector. NSIC, a PSU under the MSME Ministry, provides technical, financial and marketing help to small industry.

"In order to strengthen the NSIC and make it an apex organisation for coordination of marketing support programmes for MSMEs, the government has decided to provide an equity support of Rs 300 crore to NSIC in three years," said Virbhadra Singh, Minister forMicro, Small and Medium Enterprises (MSME) Ministry in a written reply to the Lok Sabha.

Replying to the query whether NSIC has set up projects in developing nations, the minister said that the organisation has set up three projects in South Africa during the last three years.  In another reply, Singh said that since the inception of Prime Minister's Employment Generation Programme (PMEGP) in 2008-09, 1.41 lakh units have been assisted with margin money subsidy of Rs 2,593.78 crore till November 2011.

The programme aims to generate self-employment opportunities through establishment of micro enterprises in the non-farm sector.  Under the programme, beneficiaries can establish micro enterprises by availing of margin money subsidy of 25 per cent of the project cost in rural areas and 15 per cent in urban areas.


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