Orissa’s new MSME policy

The Orissa state government has been trying to give a final shape to new policy for the promotion of the small and medium enterprises in the state. Considering the need for the promotion of the MSME (micro, small and medium enterprises), state government is finalizing the policy and will implement it. The policy makes provision for the fiscal and non-fiscal assistance from the government to new MSMEs. This is a giant step towards a new industrial promotion policy by the state government.

The policy is also being framed with the objective of developing the ancillary and downstream units in the state to optimize the multiplier effect of the upcoming large industries, particularly in sectors like iron and steel, alumininum and power. Under this new scheme 25 per cent of the land in all upcoming industrial estates will be earmarked for MSMEs, according to media reports. And the financial institutes like Orissa State Financial Coroporation (OSFC), and Small Induastrial Development Bank of India (SIDBI) will be provide financial assistant to MSMEs.