During the meeting, CA Julfesh Shah, Chairman, COSIA Vidarbha, highlighted that the Credit Linked Capital Subsidy Scheme (CLCSS) was abruptly discontinued without any apparent reason, depriving small and micro industries of its benefits. Under this scheme, industries availing loans for the purchase of plant and machinery were eligible for 15% subsidy (up to ₹15 lakhs) as financial support. Shah expressed that this scheme provided crucial encouragement to small and micro entrepreneurs, helping them modernize their units and enhance competitiveness. The sudden discontinuation has adversely impacted many units that relied on this assistance. He further informed that COSIA had earlier submitted a representation to the Government of India requesting the revival of the CLCSS scheme, but it has not yet been reintroduced.
Responding to the concern, Atri assured the COSIA delegation that the Ministry would take appropriate steps and consider the matter seriously for the early revival of the scheme.
Also present on the occasion were Vijay Sirsat, Joint Director, MSME Nagpur; Nitin Alshi, Treasurer, COSIA ; Govind Rathi and Lalit Karemoré among others.