(MENAFN- KNN India) The Tamil Nadu Government recently allocated Rs 2.1 crore to Coimbatore district for disbursement of subsidy to micro, small and medium-scale enterprises (MSMEs) to purchase generators under a scheme.
According to a media report, the amount of Rs 2.1 crore received now has been disbursed to 189 applicants. However, there are 628 more applications pending for subsidy and Rs 7.63 crore was required for the same, it said.
The report quoted the President of Tamil Nadu Association of Cottage and Tiny Enterprises (TACT), J James that several units invested in generators two years ago as power cuts were high in the state and the government had announced subsidy for purchase of generators.
Some of the units had taken bank loan or borrowed from private lenders and they had now paid interest that amounts to almost the subsidy amount they would get.
He appealed to the state government to release the pending subsidy amount immediately, it said.
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