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The government is focusing on strengthening the SME sector to address the crisis caused by Kovid.
During the tenure of this government, the small scale industrial sector witnessed tremendous growth. The total investment in the sector during 2016-20 was `5,231.05 crore. It was also able to provide employment to 1,54,341 people.
For the accelerated development of the sector, 2,550 enterprises have been issued Certificates of Accreditation within nine months through the 'Kerala Micro Medium Small Enterprises Facilitation Act 2019' implemented by the State Government last year.
The law, which allows businesses to start easily, came into force in November last year.
The provision of the Kerala Micro and Small and Medium Enterprises Facilitation Act 2019 is that no permission is required for three years to start a venture with an investment of up to Rs 10 crore. Exempt from licenses, permits and permits under various laws for the first three years. Self-certification is permitted for three years. There will be no inspections during this period. The license must be obtained within six months thereafter. Penalties will be levied for violating the rules and providing inaccurate information.


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