Functions of state industrial development corporations
Answers
Answer:
Financial Assistance to Small Units : The main function of State Finance Corporations is to provide long term finance to small and medium scale Industrial concerns formed as public or private limited companies, corporations, forms or proprietary concerns repayable with in a period of 20 years.
Explanation:
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Explanation:
In many state governments, for the promotion of small scale industries, a separate corporation has been set up which is known as Small Industries Development Corporation. They undertake all kinds of activities for the promotion of small scale industries. Right from the stage of installation, to the stage of commencing production, these Corporations help small scale industries (SSI) in many ways.
In short, they provide infrastructure facilities to small scale industries. Due to the assistance provided by SIDCO, many backward areas in most of the states have been developed. So, SIDCO has also been responsible in spreading the industrial activity throughout several states.
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