Open End Spinning Mills Association (OSMA) President Arulmozhi welcomes the Union Budget's plan to provide vocational training to one crore students, citing its benefits for the industrial sector.
Coimbatore: The Open End Spinning Mills Association (OSMA) has welcomed the Union Budget's initiative to provide vocational training to students. In a statement released today, July 23, OSMA President Arulmozhi said that the budget announcement to provide vocational training to one crore students will greatly benefit the industrial sector.
Arulmozhi highlighted several key points from the budget that would positively impact the industry. He mentioned that the provision for MSME companies to obtain loans without collateral for purchasing machinery would be highly beneficial.
The OSMA President also praised the budget's approach to helping MSMEs with delayed loan repayments. He explained that the Special Mention Account (SMA) system would assist banks in providing financial aid to MSMEs, preventing their accounts from becoming Non-Performing Assets (NPAs).
Another significant aspect Arulmozhi pointed out was the central government's plan to pay the first month's salary for new hires in the manufacturing sector. He stated that this initiative would greatly benefit the industrial sector.
Arulmozhi emphasized that the plan to provide vocational training to one crore students over the next five years would be advantageous for the industry. He expressed optimism about the positive impact these measures would have on the industrial landscape.
Arulmozhi highlighted several key points from the budget that would positively impact the industry. He mentioned that the provision for MSME companies to obtain loans without collateral for purchasing machinery would be highly beneficial.
The OSMA President also praised the budget's approach to helping MSMEs with delayed loan repayments. He explained that the Special Mention Account (SMA) system would assist banks in providing financial aid to MSMEs, preventing their accounts from becoming Non-Performing Assets (NPAs).
Another significant aspect Arulmozhi pointed out was the central government's plan to pay the first month's salary for new hires in the manufacturing sector. He stated that this initiative would greatly benefit the industrial sector.
Arulmozhi emphasized that the plan to provide vocational training to one crore students over the next five years would be advantageous for the industry. He expressed optimism about the positive impact these measures would have on the industrial landscape.