Govt to allot 100 acres to APSFC

The state government is keen on developing world-class infrastructure facilities to foster the growth of small and medium enterprises (SMEs), J Geeta Reddy, minister for industries and tourism, said on Saturday.

Addressing a seminar on the 'Prospects of SMEs in Andhra Pradesh' organised by the Andhra Pradesh State Financial Corporation (APSFC), she said that the state government had decided to allot 100 acres to APSFC for developing a model industrial estate.

APSFC, in turn, would allot plots to eligible applicants and also extend the required financial assistance.

She said that the sector would receive a further boost when the SME Development Bill, which proposes to raise the investment limit of small scale units from Rs 1 crore to Rs 5 crore in plant and machinery, will be passed by Parliament soon.

She referred to the Union finance minister's statement that the Centre would take measures to double the credit flow to the SME sector.