Hyderabad: The Telangana government plans to set up an ‘Industrial Health Clinic’ to support sick enterprises in the state in Micro Small Medium Enterprises (MSME) sector with a corpus fund of Rs 100 crore.
State Industries Minister K T Rama Rao has written a letter to Union Minister for MSMEs Kalraj Mishra seeking Centre’s support for the initiative. The letter was handed over to Mishra by Telangana Principal Secretary for Industry in Delhi, an official release said.
“The Telangana government believes in the philosophy of prevention is better than cure and as such would like to set up Industrial Health Clinic for MSMEs under the Telangana Industrial Development Corporation to diagnose, aid, facilitate and support the incipient sick and sick enterprises and to supplement the efforts of the Banks/Financial Institutions through a dedicated corpus fund with active stakeholder participation,” the release quoting the Minister said.
The ‘clinic’ is proposed to be set up with a corpus fund of Rs 100 crore in which the state’s participation would be to the tune of Rs 10 crore. The contribution of industrial associations and other stakeholders would be Rs 50 crore.
The state government has requested the Centre to provide Rs 50 crore as its contribution as a “one time grant”, the release added.