Efforts by the government to promote small scale industries - MAINS QUESTION - DAILY CURRENT AFFAIR QUESTIONS AND ANSWERS

Friday, August 21, 2020

Efforts by the government to promote small scale industries

- To promote small scale industries, the government has made the following efforts.

1. Establishment of body and corporations- The government has established various corporations and boards from time to time such as All India Cottage Industries Board, Rakhadi and Village Industries Board, All India Handicraft Board, Small Industries Board, Coconut Jatha Board, National Small Industries Corporation, Handicrafts Development Corporation of India, etc.

2. Financial Assistance - Small scale industries are supported by various banks and institutions. Credit facilities are provided to small scale industries by the Reserve Bank of India, State Bank of India, National Small Industries Corporation, State Finance Corporation, Cooperative Banks, Commercial Banks, and National Small Industries Development Banks.

3. Technical Assistance - Small Industry Development Organization has been established to provide technical assistance to small scale industries. Under these services, Indians are sent to receive training abroad and foreign experts are also invited to impart training in India.

4. Tax exemption - The production tax or other similar taxes are not levied on the goods produced by small scale industries, or are imposed for nominal purposes only. They are also given concessions in transportation expenses.

5. Marketing facilities - Emporiums or show-rooms are opened from place to place by central and provincial governments and specialized corporations for the sale of goods manufactured by small-scale industries. Along with this, big marketing committees and associations have also been formed with the help of the provincial governments, which sell goods manufactured by small scale industries.

6. License exemption - Production of certain goods only for this sector, exempting small scale industries from the license has been secured

7. Priority in Government Procurement - Government gives priority to small scale industries in purchasing goods for the use of their departments.

8. Organizing Exhibitions- Exhibitions are organized from time to time and from time to time to inform the public about the items of small scale industries.

9. Establishment of research centers - A number of research centers have been established for items related to small scale industries.

10. National Equality Fund - The Central Government has set up a fund, in which Rs. 5 crores has been given by the Central Government and Rs. 5 crores by the Industrial Development Bank of India. The fund is managed by the Industrial Development Bank of India, which provides small and small scale industries up to 75 thousand rupees as a soft loan to Seed Capital.

11. Establishment of Small Industries Development Bank of India- This bank was established as a subsidiary of the Industrial Development Bank of India. Its capital is Rs 450 crore and its main function is to provide financial assistance to small scale industries, its offices have been opened in various states.

12. Small Entrepreneur Credit Card Scheme - This scheme has been implemented from the year 2002-03 with the aim of providing easy credit to small traders, artisans, entrepreneurs, etc.

13. Improvement in lending to small scale industries - Compositing loan limit has been increased from Rs 25 lakh to Rs 50 lakh. Composite loans include loans for plant and machinery as well as working capital. The requirement of parallel collateral for loans up to 5 lakh has been abolished. The Reserve Bank of India has constituted a committee to monitor the flow of credit to small scale industries.

14. Removal of ban on stitched textiles - assisted in this sector by maximizing employment opportunities including technology up-gradation, increase in productivity, quality awareness, diversification of products, increase in exports and latest marketing, policies She goes.

15. Establishment of integrated, infrastructural development centers - Under this scheme, infrastructure developed in an industrial complex, along with basic facilities like electricity, water, telecommunication, drainage system as well as banks, raw materials, storage, marketing, technology, and other basic Facilities are also provided.

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