Chennai: The Tamilnadu government will launch a State Level Credit Guarantee Scheme (SLCGS) to enable more Micro, Small and Medium Enterprises (MSMEs) to access credit.
Presenting the budget in the State Assembly, Finance Minister Palanivel Thiagarajan pointed out that a committee chaired by retired IAS officer Dr N Sundaradevan has been established to study the financial, infrastructural and other issues faced by MSMEs in Tamilnadu and suggest measures to enable them to thrive.
He said the DMK Government will launch a State Level Credit Guarantee Scheme to enable more MSMEs, particularly micro enterprises to access credit.
A digital data driven credit rating system for MSMEs will be established to enable FIs and new age fintech companies to lend more to MSMEs based on their business potential, he
said.
Palanivel Thiagarajan said the TAICO Bank will be repurposed to enable lending to MSMEs. The Government will handhold MSMEs, which want to raise equity capital from stock exchanges, and t
he cost of listing, up to Rs 30 lakh will be borne by the Government.
The Government, based on advice received from the Economic Advisory Council to Chief Minister M K Stalin, will launch an innovative scheme wherein MSMEs and their creditors, will be
facilitated to reach agreement on restructuring their liabilities.
To ensure that MSMEs have faster channels for realisation of their dues, all State Public Sector Undertakings, Statutory Boards, Municipal Corporations and apex co-operatives will
be mandated to join the Trade Receivables and Discounting Platform (TReDs).
Five mega clusters in Pharmaceutical, Petro Chemicals, Precision Manufacturing, Defence and Aerospace, and Smart Mobility sectors will be established at a cost of Rs 100 crore each.
TANSIDCO will also establish land banks at five places over a total extent of 265 acres. The pricing policy of unsold plots in TANSIDCO Industrial Parks will be rationalised to ensure
they are put to beneficial use early.
The Minister also announced that the state Government will formulate a Sustainable Mining Policy to ensure that mining activity is carried out without affecting the environment
and the ecology.
A Green Fund will be created based on the levy of the green seignorage cess to ensure that abandoned quarry sites are appropriately secured and restored.
A Fossil Geological Park will also be developed in Ariyalur and Perambalur districts at a cost of Rs 10 crore, he said.

