Describe three important subsidies offered by the government to small scale enterprises
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National Bank for Agriculture and Rural Development (NABARD)
NABARD established by the government in 1982 to give action and to promote the rural industries. It has adopted multi-purpose strategies in promoting in rural business in India. It supports small industries, rural artisans, rural industries, cottage industries along with agriculture. Also, it sets up training and counselling plus it gives development programmes for rural entrepreneurs.
2. A Rural Small Business Development Centre (RSBDC)
RSBDC is a government centre sponsored by NABARD for micro, small and medium businesses which is set up by world organization. The primary purpose of RSBDC is to work for socially and financially disadvantaged people and groups. RSBDC does many programmes on skill up gradation, entrepreneurship, awareness, counselling and training.
These programmes motivate various unemployed youth and young women learn different trades and introduce them to other good benefits from it.
3. National Small Industries Corporation (NSIC)
NSIC was set up in 1995 by the government to popularize and support small businesses focusing on commercial aspects. The important functions of NSIC are:
Supply imported goods and machine on hire purchase agreement.
Procurement of supply imported indigenous raw materials.
Developing small business by importing their products.
Supervising services.
Awareness on technical up gradation.
NABARD established by the government in 1982 to give action and to promote the rural industries. It has adopted multi-purpose strategies in promoting in rural business in India. It supports small industries, rural artisans, rural industries, cottage industries along with agriculture. Also, it sets up training and counselling plus it gives development programmes for rural entrepreneurs.
2. A Rural Small Business Development Centre (RSBDC)
RSBDC is a government centre sponsored by NABARD for micro, small and medium businesses which is set up by world organization. The primary purpose of RSBDC is to work for socially and financially disadvantaged people and groups. RSBDC does many programmes on skill up gradation, entrepreneurship, awareness, counselling and training.
These programmes motivate various unemployed youth and young women learn different trades and introduce them to other good benefits from it.
3. National Small Industries Corporation (NSIC)
NSIC was set up in 1995 by the government to popularize and support small businesses focusing on commercial aspects. The important functions of NSIC are:
Supply imported goods and machine on hire purchase agreement.
Procurement of supply imported indigenous raw materials.
Developing small business by importing their products.
Supervising services.
Awareness on technical up gradation.
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Subsidies offered by the government to small scale enterprises
Explanation:
Government offers various subsidies to help and promote Small scale industries, such as-
- CLCSS- credit linked capital subsidy scheme for technology up-gradation (CLCSS) . This scheme is made for technology up-gradation by giving 15% capital subsidy to the small scale industries. because without advanced technology SSI can't compete in domestic or international market.
- CGMSE- Credit guarantee fund scheme for micro and small enterprises (CGMSE) is made to provide financial help to SSI where government and SIDBI contributes the fund in the ratio 4:1. This scheme is very essential for the financial requirement of small enterprises.
- Mini tool room and training center scheme- this scheme offers fund for the set-up of mini tool room by providing grant up to 90% of the new equipment and up to 75% in case of obtainable room. this helps in technical up-gradation of SSI by providing assistance in tool development.
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Subsidies offered by the government to small scale enterprises
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