The Kanara Small Industries Association (KSIA) has asked the Karnataka Government to take steps to provide adequate Budgetary support for the entire investment subsidy due to the small-scale units (SSIs) in the State.
Addressing a news conference on Friday, primarily to focus on the present scenario faced by SSIs in the era of liberalisation and globalisation, the KSIA President, Mr K. Jayaraj Pai, said that the backlog in the entire State is in the range of Rs 390 crore with the Dakshina Kannada district alone accounting for Rs 18 crore. Many SSIs, which have taken bridging loans at a high rate of interest, are now in the doldrums because their repayments have crossed the sanctioned subsidy limit and are facing an acute shortage of working capital.
