The Coimbatore District Small Industries Association (CODISSIA) welcomed the project for construction of Avinashi Road flyover from the Coimbatore airport till Uppilipalayam.
The state government has sanctioned for a 10.1 km elevated road from Coimbatore airport to Uppilipalayam along Avinashi Road in Coimbatore at a cost of Rs 1620 crore. It has also been announced of sanctioning Rs 200 crore initially for 2020-2021 towards implementation of the project.
Stating that despite the economic slow down, there is an increase in economic development in Tamil Nadu, when compared with the country’s overall economic development; he said the state’s economy grew at 8.17 per cent in 2018-2019. In 2019-2020, the growth is projected to be 7.27 per cent, which is significantly higher than the projected growth rate of the nation at 5 per cent, he said.
The industrial body welcomed allocation of Rs 2,500 crore for industries development, increase of interest subsidy from three per cent to five per cent for MSME’s and Rs 607 crore allocation for Micro, Small and Medium Enterprises Department.
“Allocation of Rs 100 crore for new entrepreneurship and development scheme thereby increasing capital subsidy to them to Rs 50 lakhs from Rs 30 lakhs. 500 new companies will set up under Entrepreneurs Innovation Scheme,” he said.
Ramamurthy also hailed the launch of a new five year Chief Minister’s Rural Self Sufficiency Devleopment Programme to focus on effective delivery of basic services to rural habitation.
Also allocation of Rs 10 crore subsidy to develop Government College of Technology in Coimbatore on completing its diamond jubilee came in for praise.
“The above allocation of funds for various sectors will benefit the MSMEs and stimulate the demand for their growth,” he noted.