Chennai:
Tamil Nadu plans to cut red tape in release of capital subsidy to Micro Small and Medium Enterprises (MSME) by online monitoring of applications.
Speaking during the ‘Emerging Roles of MSME Business Membership Organisations’ organized by TANSTIA-FNF Service Centre here on Friday, director and commissioner of Industries and Commerce Swaran Singh said the initiative will usher in transparency.
The applicants would be provided the status of the application besides if there is any deficiency in the applicantion, the applicant would be informed within 48 hours, said Singh.
He also said that the government is also looking at similar e-tracking mechanism for banks also.
He also said that his department would also make compulsory registration of all the MSMEs operating in the state.
He also said single window clearance system, which came into being after a Government order was passed last week, would look into all pending issues.
He also said that the state government will have a database of MSMEs in the state by March 31. Tamil Nadu has the largest number of MSMEs in the county. According to figures available, It has 8.51 lakh registered MSMEs and provides employment to 58.83 lakh persons.
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