Image Source: THE TRIBUNE

To facilitate industrial units in the state retain their employees, Haryana today notified its micro small and medium enterprises (MSME) revival scheme under which 100 per cent interest benefit on loans, availed for payment of employees’ wages and other expenses up to a maximum of Rs 20,000 per employee, will be provided by the government. A decision in this regard was taken by the Haryana Cabinet that met under Chief Minister Manohar Lal Khattar yesterday, but a notification of the scheme has been issued today. TVSN Prasad, Additional Chief Secretary, Finance Department, Haryana, said he was confident that the scheme would catalyse the revival of the industry in the state. The benefit will be limited to the interest paid by the industrial unit to the bank or financial institution up to a period of six months. The benefit will be calculated at maximum 8 per cent rate of interest or the actual rate charged by the bank. For eligibility, the industrial unit should have been in commercial production for at least 80 per cent of the days between February 1 and March 15 and it should have a running account of term loan or working capital loan from a commercial bank or financial institution.

1. The state government will provide 100% interest benefit on loans availed for employees wages up to a maximum of Rs 20,000 per employee.
2. The benefit will be limited to the interest paid by the industrial unit up to a period of six months.
3. It will be calculated at maximum 8% rate of interest or actual rate charged by the bank.
4. The government will directly pay to the banks.