Malaysia Budget 2016: More measures to help Indian businesses
The Indian community will be pleased with measures in Budget 2016 to help small-scale businesses, including a RM600mil (S$197 million) allocation under the Tekun scheme.
Of the amount, RM500mil will go to bumiputra entrepreneurs and the remainder to 10,000 Indian entrepreneurs under the Indian Community Development Scheme.
Malaysian Indian business owners and budding entrepreneurs have further reason to rejoice as SME Bank will be providing RM50mil to assist small-scale business owners.
Meanwhile, RM100mil has been allocated under the Socio-Economic Development of Indian Community Programme in collaboration with NGOs and private skills training institutes.
An additional RM200mil will be given to Amanah Ikhtiar Malaysia for its micro-financing facility to B40 households, which made up about 1.7 million Malaysians.
These measures are in line with Prime Minister Datuk Seri Najib Tun Razak's promise to address the needs of the Indian community.
To date, the Secretariat for Empowerment of Indian Entrepreneurs (SEED) has facilitated RM711mil in loans and benefited over 24,000 Malaysian Indian entrepreneurs.