Chief Minister Shivraj Singh Chouhan has said that the Madhya Pradesh investment promotion scheme will be implemented for micro, small and medium industries in the State. Under the Madhya Pradesh land management rules, 90 per cent concession will be given in prescribed rates for allotment of up to 5000 square feet plots to MSMEs.
The Chief Minister was addressing a Yuva Udyami Sammelan at his residence here on Wednesday. About 1,000 young entrepreneurs who have set up industries under the Mukhyamantri Yuva Udyami Yojana participated in the convention. The Chief Minister said that a new Madhya Pradesh will be carved out by laying a network of small and cottage industries in the State. For developing clusters as MSMEs, 15 industrial areas costing Rs 10 crore are being developed. In all industrial areas in the State, 20 per cent land has been reserved for micro and small industries. They are given 15 percent capital subsidy and 5 percent interest subsidy. Electricity connections are provided at reduced rates.
A Rs100 crore Venture Capital Fund has been instituted to help small entrepreneurs for start-up companies. Registration process for these entrepreneurs has been simplified and made online. The Chief Minister said that attention will have to be paid to industries side by side agriculture to make Madhya Pradesh a pioneer State in the country.
Apart from major industries, young entrepreneurs are being promoted with capital investment. The State Government is inculcating quality of entrepreneurship among the youth. For this, the Mukhyamantri Yuva Udyami Yojana has been implemented under which up to Rs 1 crore loan is made available to young entrepreneurs. This year, 1000 such entrepreneurs have been raised in the State.
He told the youth that nothing is impossible with firm determination. Humility and patience are key to success. Refusal to accept defeat in any situation and continuous hard work are the mantras of success. He exhorted them to keep updating techniques in their respective fields. They should not consider this success as destination, but a milestone. He (the CM) is available every Monday if they have any difficulty.