M.P. to abolish ‘export tax’ on tiny sector .

 Indore, Oct 28:  The Madhya Pradesh Government on Sunday announced a slew of incentives for the micro, small and medium enterprises (MSME), including abolition of ‘export tax’.

Export tax levied by the civic bodies on products of MSMEs will be abolished and these units will be provided land from the State Government’s 20,000-hectare land bank, Chief Minister Shivraj Singh Chouhan said, inaugurating the third Global Investors Meet here.

MSMEs having annual turnover between Rs 12 lakh and Rs 30 lakh would get exemption from the tax which will boost their export, he said. Madhya Pradesh has about 20,000 hectares of land bank and a share of it will be reserved for MSMEs. A sum of Rs 900 crore would be spent on land bank and cluster development, the Chief Minister said.

Round-the-clock power would be supplied to MSME units not only in urban areas but also in rural. Funds will be provided for technology upgradation and skill development, he said, adding buyer and seller meets would be organised at local level to woo MSMEs in rural areas.

ITIs would be upgraded with the help of business chambers, Chouhan said, adding bureaucratic hurdles encountered while setting up MSMEs will be removed.

Over 800 business delegates, including 100 from abroad, are participating in the three-day event.

Kailash Vijayverigiya, Industry, Commerce and IT Minister, said 113 MoUs worth Rs 670 lakh were inked with MSMEs on the first day of GIM.

Source : samachar.com