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Increase in subsidy for SSIs

By Our Special Correspondent

NEW DELHI, JULY 8. In a two-pronged strategy to improve the small scale sector, the Union Finance Minister, P. Chidambaram, today announced the dropping of 85 items from the list reserved for the small scale sector while raising the subsidy available to it.

Justifying the move during his budget speech, Mr. Chidambaram said, "Technology upgradation of SSI units is the most urgent requirement to do business in a competitive environment. In this direction, the Government has reviewed the Capital Subsidy Scheme and proposed to raise the ceiling for loans under the scheme from Rs. 40 lakhs to Rs. one crore."

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