Vidhi Codex

The Maharashtra State-aid to Industries Act, 1960

The Maharashtra State-aid to Industries Act, 1960

General19607 sections

The Maharashtra state aid to industries law regulates the distribution, repayment, and recovery of government loans to support local private businesses. It applies to cottage and small scale industries operating within the state of Maharashtra, specifically targeting entrepreneurs with limited capital who need financial support. This legislation matters because it drives regional economic development by providing essential credit to small businesses and local artisans. By establishing clear guidelines for loan application, interest, and recovery, the act empowers the state to safely invest public funds into smaller enterprises, ensuring borrower accountability while promoting grassroots industrial growth across the entire Indian state.

Start reading →Read full ActSections
  1. 1. Short title, extent and commencement.
  2. 2. Definitions.
  3. 3. Power of State Government to grant loans to village and small scale industries.
  4. 4. Application for loans.
  5. 5. Repayment of loan.
  6. 6. Recovery of loans.
  7. 7. Power to make rules.

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