Jharkhand government to increase subsidy to MSMEs from 25 pc to 40 pc: Hemant Soren

Ranchi: Jharkhand Chief Minister Hemant Soren said that the government will hike the subsidy being provided to the MSMEs in Jharkhand from the existing 25 percent to 35-40 percent with an aim to further boost industrialization in the state.

Addressing the concluding ceremony of a trade function at the Morhabadi Grounds of the state capital he said he said that the government has formed a very good industrial policy due to which many industrial houses have shown their interest to invest in the state. 

He said that recently foundation has been laid in Jamshedpur to set up a unit by a big industrial house which will involve an investment of nearly Rs 2500 crore. He said that Jharkhand has been such a state where industrialization started taking place before the Independence itself whether it was the Tatas, Birlas or the coal companies all of them came into Jharkhand before the Independence.

He said that the mother of all industries which is the HEC and the first fertilizer plant in the country was also set up in Jharkhand. But despite that the position that the state should have attended in the area of Industrialisation has not been realized so far but nonetheless, his government was taking all necessary steps in that direction. The Chief Minister said that Jharkhand has all the potential to further accelerate Industrial development but despite that it ranks among the backward states of the country.

He said that there are other states in the country who do not have so much of resources but they are among the leading states of the country. Hemant Soren said that Jharkhand has been blessed with mineral as well as natural wealth and human resources but despite that the state has lagged behind. He called upon all the stakeholders to work together so that the state can stand among the developed states of the country.

Speaking on the occasion Rajya Sabha MP Mahua Majhi said under the leadership of Chief Minister Hemant Soren many schemes have been launched for promoting industrialisation in Jharkhand. She said the government is of the view that the benefits of government schemes should reach all sections and communities.

She exuded confidence that in the days to come the state government and the Jharkhand Chamber of Commerce will work together with dedication for the development of the state. During the function, a live portrait of the Chief Minister was presented to him while later the Chief Minister also visited some of the stalls on the occasion.

Secretary to Chief Minister Vinay Kumar Choubey Chairman of Jharkhand Chamber Of Commerce and Industry Kishore Mantri and others were present on the occasion.

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