COVID Assistance and Relief to Entrepreneurs (CARE) Scheme – Announcement by MSME
Hon’ble Minister for Micro, Small and Medium Enterprises ( MSME) of Tamilnadu has made an announcement that it was decided to extend subsidy supported credit scheme to help the eligible entrepreneurs whose businesses were affected by Covid 19 pandemic, to re-establish their existing business or to start a new enterprise of similar activity or some other activity , either by himself / herself or through their legal heirs and to incentivise those who undertake technology upgradation / modernization of their existing enterprise with an objective to enhance the productivity.
The Government has given sanction for a sum of Rs.50 crore for the implementation of the CARE scheme for the year 2022-23 and also ordered that out of Rs.50 crore, Rs.20 crore under Capital subsidy head and Rs.30 crore under Unemployed Youth Employment Generation Programme (UYEGP) head shall be utilised by re-appropriation.