Incubation centre promised for women entrepreneurs

Shakti, women entrepreneurs meet has started on a grand scale here on Friday. Union Minister for MSME Kalraj Mishra has inaugurated the meet.

Speaking at the event he has said he would extend his support for setting up an incubation centre for women entrepreneurs in Andhra Pradesh. He also mentioned that the support would be extended under ASPIRE, a scheme for promotion of innovation, entrepreneurship, and agro industry. The MSME parks proposed to set up by the state government in all of its 175 assembly constituencies would be given support by the Union Government, he said.

Mr. Mishra in the meeting has given details regarding various initiatives taken up by the Modi government for the promotion of MSME"s on a large scale.
He said the corpus of Credit Guarantee Trust Fund for Micro and Small Enterprises was increased from ₹2,500 crore to ₹7,500 crore, and it would be fully funded by the government. The coverage of loans under credit guarantee was increased from ₹1 crore to ₹2 crore and made applicable to non-banking financial companies too. Banks had been asked to raise the credit limit for small industry from 20% of the turnover to 25%, and working capital loans from 20% of the turnover to 30% for enterprises that transacted digitally.

Dedicated women entrepreneur parks were running in Vijayawada and a few were taking shape in Nellore. It would be encouraged in North Andhra too, the officials spoke at the event discussed.

Director-General of the forum Sushma Morthania, Chairman of the forum Prahlad Kakkar, honorary president Vinod Kumar, General Manager, SBI, Hyderabad, Ravindra Pandey, and president-elect of the Chambers G. Sambasiva Rao and others spoke.

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