Gujarat State Budget Allocated Rs 596 Cr for MSMEs, Rs 50 Cr for Startups

In the state budget for the year 2016-17, Gujarat government has announced a provision of Rs 596 crore for cash assistance scheme, interest subvention scheme, assistance for rent of shed and other assistance to MSME units under the Industrial Policy 2015.

Further, under the Start-Up Policy, the Budget has a provision of Rs 50 crore for venture capital to encourage Start-up and MSME projects.

The Budget has a provision of Rs 22 crore for effective implementation of the Start-up policy and the ‘Gujarat Start Up Mission’ will be started to give concrete shape to the innovative ideas of the youth of the State.

There is a provision of Rs 25 crore to set-up a corpus fund in iCreate for accelerating incubation, innovation and start up.

The Budget also has a total provision of Rs 330 crore under Cottage and Village Industry head and Rs 31 crore for various activities to encourage and develop the Khadi sector.

Anandiben Patel led Gujarat Government has decided to provide uniform of ‘Poly Khadi’ to 20,000 students of primary schools of Chotila Taluka as a pilot project to create employment opportunities in villages.

A provision of Rs 6 crore for this purpose. Under the new Cottage Industrial Policy, Raw material bank will be created to provide small artisans raw material at reasonable rates.

An exhibition centre will be set up at Sabarmati river front to demonstrate the best traditional arts of Gujarat and the unique workmanship of our artisans.

With the total provision of Rs 1516.22 crore including Plan and non-Plan for Labour and Employment Department,  Rs 220 crore is for providing permanent and temporary accommodation to workers of unorganized sector.