Govt launches updated Credit linked Capital Subsidy Scheme for MSMEs

Centre to prepare report on U K Sinha panel's recommendations within 8 days

The government on Thursday launched the updated Credit linked Capital Subsidy Scheme (CLCSS) to allow micro, small and medium enterprises (MSMEs) access to capital.

MSME Minister Nitin Gadkari announced the government would prepare a final report on the recommendations of the U K Sinha committee, which had been set up by the Reserve Bank of India (RBI) to suggest expeditious ways to strengthen MSMEs, within the next eight days.

Gadkari said the CLCSS scheme would be crucial in raising MSME contribution to gross domestic product from the current 29 per cent to 50 per cent, in addition to increasing exports from the