Madhya Pradesh Set to Introduce MSME Policy Soon; Plans for Start-ups and CBG
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Synopsis
The Madhya Pradesh Government is poised to launch a new MSME policy during the upcoming Global Investors Summit on February 24 and 25. The State Cabinet will review the policy details on February 18, aiming to simplify processes for small enterprises and support start-ups with a new ecosystem.
Key Takeaways
- Madhya Pradesh's new MSME policy set for release.
- Policy to focus on land allocation for investments.
- Minimum non-refundable fees introduced for land parcels.
- Start-up ecosystem aimed to support emerging entrepreneurs.
- Compressed biogas policy also in development.
Bhopal, Feb 17 (NationPress) The Madhya Pradesh government is preparing for the upcoming Global Investors Summit scheduled for February 24 and 25, where a new MSME policy for 2025 is anticipated to be unveiled on Tuesday. The State Cabinet will discuss the details of this policy during its meeting on February 18.
As per reliable government sources, various departments are contributing to the revisions aimed at simplifying processes for micro, small, and medium enterprises. A key aspect of this policy is the allocation of land parcels to private investors, which has been highly awaited.
The policy will be presented at the significant investors' event on the 24th and 25th of this month. Insiders indicated that in contrast to previous regulations, the new rules will impose a minimum non-refundable fee of Rs 20,000 for a small parcel of land measuring between two to five hectares.
For MSME investors seeking larger, undeveloped plots exceeding 20 hectares, a non-refundable fee of Rs 500,000 will be required.
Currently, land allocation is handled on a case-by-case basis, but soon available plots will be listed on government portals, prioritizing requests on a 'first come, first served' basis.
The existing MSME policy from 2021 (updated in 2023) includes several facilities, yet the land allocation provisions require significant improvement. Additionally, the Start-up policy launched in 2022 is set for amendment in 2024.
A new compressed biogas policy for investors is also in the works.
The new policy will shift certain powers from the general manager of the district trade and industry center to a committee that includes the MSME commissioner, the deputy or additional secretary of the MSME department, and the general manager of the district trade and industry center.
However, the state will maintain the exclusive authority to approve or reject any requests for multiple land parcels, according to sources.
In the meantime, the State Cabinet will also consider a start-up policy designed for emerging entrepreneurs alongside a policy for Compressed Biogas Plants in the upcoming meeting.
This start-up policy aims to foster an ecosystem that supports and enables aspiring entrepreneurs, providing them with a ready-to-use environment to launch their businesses, sources revealed.
