Govt to allocate Rs 1000 cr to nurture entrepreneurship in Haryana

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Haryana Deputy Chief Minister Dushyant Chautala on Friday said that the State Government will allocate around Rs 1000 crores in the upcoming state budget as a part of new innovative incentives, setting up incubation centres, and assistance for loans, all aimed at fostering balanced regional development and nurturing entrepreneurship among youth in the State.

At the third ASSOCHAM Haryana MSME Samvaad, Chautala said that the State Government’s vision is to build Haryana as the competitive and most favoured investment destination. “Haryana MSME sector also has to attract investment of over Rs one lakh crore and generate five lakh jobs in the state and to reach this target and lay the foundation of ‘Aatmanirbhar Bharat’,” he said.

He informed that the Micro, Small, and Medium Enterprises (MSME) sector in Haryana has witnessed remarkable growth, with a staggering 2,81,024 new MSME manufacturing units registered in the past five years alone. “This has created more than 15 lakh jobs and has propelled Haryana to the top ranking among all northern states, contributing significantly to the state’s GDP and employment,” he pointed out.

Chautala explained that in line with the state’s focus on bolstering the MSME ecosystem, the PADMA scheme, or the Programme to Accelerate Development for MSME Advancement, was introduced. This comprehensive programme aims to establish dynamic and self-sustainable industrial infrastructure at the cluster level, facilitating local product promotion and generating employment opportunities for the youth and Antyodaya families. The PADMA scheme includes a venture capital fund of Rs. 200 crores to support the growth of MSMEs, encourage entrepreneurship, and foster start-up development, he said.

Recognizing the potential of textile industry, Haryana AtmaNirbhar Textile Policy has positioned the state as a key player in the sector. Chautala explained that through a robust package of incentives, infrastructure support, and skill development programmes, the policy has stimulated investment, innovation, and employment generation in the textile sector.

“The establishment of a dedicated Project Management Unit (PMU) in Haryana showcases the government’s unwavering commitment to bolstering and empowering small and medium enterprises (SMEs) within the MSME ecosystem. Through this proactive initiative, Haryana Government addresses challenges faced by SMEs and fosters an environment conducive to their growth and success,” he added.

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