Out of this, ₹100 crore will be used for the revival of sick MSMEs, ₹400 crore will be utilised for providing incentives to new MSMEs, and ₹500 crore will be used for developing MSME parks.
More than 2,000 start-ups in the country have received angel tax notices till date.
This statistic establishes the potential of the sector as an employment generator, according to Union Minister of State for Micro, Small and Medium Enterprises Giriraj Singh.
Indian Oil Secretary MM Kutty said that LPG consumers in the country are growing at a CAGR of 15 per cent.
One of the primary objectives of the policy is to promote balanced regional development through geographical dispersal of industry.
The consortium members’ representatives have been meeting for some time now to set up a live network that cuts timeframe in supply-chain financing, making it more transparent and secure.