Green MSME policy to provide financial, technological support likely in budget
Subscribe to enjoy similar stories. New Delhi: The government is likely to announce a policy in the upcoming budget for greening the operations of micro, small and medium enterprises (MSME) and lowering their carbon emissions.
Two people aware of the development said that the ministry of MSME has recommended the union finance ministry to roll out the policy under which Centre would provide financial, technological and regulatory support to these small businesses in the backdrop of India's aim to achieve net zero carbon emission by 2070. A body would be created under the MSME ministry to oversee its implementation.
Sustainable initiatives or operations would include use of renewable energy and lowering of emissions and more focus towards achieving circular economy including use of recycled products and also adopting proper waste management, among others. "Under this policy an institutional framework would be created for effective implementation of green and environment-friendly measures.
So, a new body would be set up oversee the implementation of the policy, compliance of the norms and handholding the smaller businesses which are yet to move towards these sustainable initiatives," said one of the two people mentioned above. "Sustainable measures and greening of operations come with an added cost.
The intention is to provide a cushion to these businesses through a multi-pronged approach, fiscal, technology and also regulatory support to ensure compliance with both domestic and global norms." The second person said that the approach may differ as per the size of the entity. A medium-sized enterprise, with over ₹50 crore revenue, would not require much financial support, but would need more of technological support and an
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