Industries and Commerce Minister Mekapati Goutham Reddy informed on Thursday about the guidelines that have been prepared for releasing Rs 905 crore aid as announced by the State government to MSMEs two weeks ago.
Addressing a Press Meet at the Secretariat on Thursday, M. Goutham Reddy said that besides the aid of Rs 905 crore as announced by CM Y S Jagan Mohan Reddy, the government has also taken a decision to waive Rs 128 crore minimum demand charges of power to MSMEs for the first quarter of the current financial (April, May and June).
Apart from the aid for MSMEs the Chief Minister has also announced a provision of working capital to MSMEs by extending loans to the tune of Rs 200 crore, in partnership with SIDBI at a low interest rate post the Covid-19 which will be benefiting 97,000 units in the State.
He added that the government had already initiated steps to implement the package and started receiving applications from entrepreneurs.
Acknowledging the Centre’s announcement of providing Rs 3 lakh crore collateral-free loans to MSMEs, Goutham Reddy said that clarity is yet to emerge over the package benefits that will be provided to Andhra Pradesh, which has 97,000 MSMEs.