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Monday, Apr 01, 2002

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Subsidy to SSIs on the decline

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THERE has been a steady fall in State investment subsidy for small-scale industries in Kerala, which is at variance with the Government's avowed objective of speedy industrialisation of the State.

During the period between 1995-96 and 1999-2000, the annual Budget provision for payment of investment subsidy to the SSIs went down from Rs 20.09 crore to Rs 12.90 crore.

On the other hand, the provision for subsidy to medium and large industries through Kerala State Industrial Development Corporation (KSIDC) increased from Rs 1 crore to Rs 4.35 crore.

Moreover, due to inadequate provision of funds in the Budget, payment of subsidy to the tune of Rs 31.73 crore for 2,171 SSI units and Rs 2.04 crore for 23 medium and large units had been in arrears as on January 2001, according to the report of the Comptroller and Auditor-General of India (CAG).

There had been no monitoring of the performance of the units that were paid subsidy, it added.

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