CHENNAI: Bringing good news to the micro, small and medium industries (MSMEs) in the State, Chief Minister J Jayalalithaa on Saturday hiked the subsidy being provided for installing generators from Rs 1.50 lakh to Rs 5 lakh. The subsidy will be provided to MSMEs with retrospective effect from November 11, 2008.At present, the MSMEs, which purchase generator sets upto 125 KVA capacity are eligible for generator subsidy at 25 per cent of the cost of the generator set, subject to a maximum of Rs 1.50 lakh, to help them in coping with the prevailing power shortage.Since the MSMEs find it difficult to continue production with the 125 KVA generators, the CM has decided to allow these industries to install 320 KVA generators and hike the subsidy given for their purchase. Those MSMEs which failed to apply for getting this subsidy so far, can do so within three months time, an release said and added that the new measure announced by the CM would help ensuring uninterrupted production by the MSMEs. The CM has already assured that the situation would start easing out from June with additional power generation of 1,950 MW.
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