Chief Minister Stalin launched a new website created to monitor the activities of Public Sector Undertakings in the state of Tamil Nadu.
Chennai: Tamil Nadu Chief Minister M.K.Stalin today (Jan. 27) launched the inaugural fund for emerging sectors of Tamil Nadu on behalf of the Finance Department at the Chief Secretariat, Chennai. In the first phase, the Chief Minister issued investment permission letters to 5 companies. Stalin launched the website www.ccfms.tn.gov.in (Companies Compliances and Financials Monitoring System) created to monitor the activities of Tamil Nadu State PSUs.
Tamil Nadu Emerging Sectors Startup Fund “Tamil Nadu Emerging Sectors Startup Fund” has been established by the Government of Tamil Nadu to invest in innovative and industrial companies in emerging sectors in Tamil Nadu.
From this fund, investments will be made in emerging sectors such as advanced manufacturing, mechanical engineering, space and defense technology, digitization, artificial intelligence, biotechnology, web 3.0, deep technology, climate technology, etc.
This fund has been initiated by the joint venture of Finance Department and Industry Department of Government of Tamil Nadu. The responsibility of managing this fund has been given to the Tamil Nadu Infrastructure Fund Management Corporation. The Tamil Nadu government has invested 50 crore rupees in this fund.
Also, Tamil Nadu Industrial Development Corporation (TIDCO) and Tidel Park have committed to invest Rs 50 crore. The Tamil Nadu Startup Fund for Emerging Sectors plans to raise its funds to Rs 500 crore in FY 2023-2024.
Through the Tamil Nadu Emerging Sectors Startup Fund, applications were received through advertisements to provide investments to companies, and the top 5 companies were selected by the Autonomous Investment Committee, and the Tamil Nadu Chief Minister issued investment approval letters to those companies. they are,
E-Sandhai: Perambalur District The company has developed and operates an online marketplace for distribution of fruits and vegetables to traders in tier 2 and 3 cities in Tamil Nadu. 1 crore has been earmarked from this fund for investment in e-market.
Kaigal (Kaigal): Based in Namakkal district, this company connects grassroots workers and MSMEs through a web-based digital platform. This website is designed to work in Tamil and other languages as well. 2 crore rupees have been earmarked from this fund for investment in hands company.
Planytics: Located at the IIT Madras Research Park, the company develops and operates software for supply chain planning and inventory management in healthcare organizations. 2 crores have been earmarked from this fund to invest in Planetix.
Surinova: Surinova has developed an automatic tea harvester to compensate for the labor shortage in tea plantations. 5 crores have been allocated for this company.
Mr. Med: Mr. Med is a digital platform that provides online delivery of expensive drugs used for serious diseases like cancer, heart disease, kidney disease etc. at cheap prices. 3.40 crores have been allocated for this company.
66 State Public Sector Undertakings are currently functioning in Tamil Nadu, the website of the Institutional Compliance and Financial Monitoring System. The new website aims to facilitate sharing of information related to financial and administrative activities of public sector organizations and statutory boards with the government.
This software is designed to collect various information, identify violations of the Companies Act, 2013, generate automatic alert SMS and email messages to the Directors and concerned key officers of the respective company, thereby rectifying such violations.
Micro, Small and Medium Enterprises Minister Thamo Anparasan, Finance and Human Resource Management Minister Palanivel Thiagarajan, Principal Secretary Government, Industry Investment Promotion and Trade Department Additional Chief Secretary S. Krishnan, Finance Department Additional Chief Secretary N. Muruganandam were present at the event. , Micro, Small and Medium Enterprises Department Secretary or Chief Executive Officer of Tamil Nadu Infrastructure Fund Management Company V. Arunrai attended the event.