Interest Free Loan: On International MSME Day on Thursday, Chief Minister Yogi Adityanath launched a loan distribution program of Rs 20 thousand crores and symbolically handed over cheques to some beneficiaries. He announced that to connect the youth with self-employment, the state government will provide them interest-free loans up to Rs 5 lakh. CM Yogi called MSME the backbone of the economy.
Interest Free Loan: To connect the youth with self-employment, the state government will provide them interest-free loan up to Rs 5 lakh. The government will also guarantee this loan provided through banks. In the next ten years, ten lakh beneficiaries will be linked to this scheme.
Chief Minister Yogi Adityanath made this announcement in a function organized in Lok Bhavan Auditorium on Thursday on International MSME Day. On this occasion, he launched the loan distribution program of 20 thousand crores and also symbolically handed over cheques to some beneficiaries.
He also inaugurated the first private industrial park (Rani Laxmi Bai Pledge Park) built in Jhansi under the Pledge scheme and launched the Raising and Accelerating MSME Performance (RAMP) scheme. In the program, toolkits were also distributed among the beneficiaries of Vishwakarma Shram Samman Yojana, ODOP and Khadi Village Industries Board.
MSME described as the backbone of the economy
The Chief Minister described Micro, Small and Medium Enterprises (MSME) as the backbone of the economy. He said, this sector was dying due to lack of proper incentives, but due to the efforts of the state government after the year 2017 under the leadership of the Prime Minister, it is the fastest growing sector today. In 2017, Uttar Pradesh was the sixth largest economy of the country, today it has become the second largest economy of the country. UP is also the state that creates the most employment in the country.
He specifically mentioned the Defense Manufacturing Corridor. He said, an investment of Rs 24 thousand crore has come in the Defense Corridor. The Chief Minister also discussed the facilities and concessions being given under the MSME policy.
He said that an international trade show was organized last year for better marketing of the state’s products. This year also a trade show will be organized in Greater Noida between 25 and 29 September. He said, 24.60 lakh registrations have been done so far under the Chief Minister’s Accident Insurance. He advised all MSME entrepreneurs to take advantage of this scheme. MSME Minister Rakesh Sachan, Infrastructure and Industrial Development Commissioner Manoj Kumar Singh, Principal Secretary of MSME Department Alok Kumar and others were present in the program.
Banks should easily provide loans to small entrepreneurs: Rakesh Sachan
MSME Minister Rakesh Sachan said that small entrepreneurs face difficulty in getting loans from banks. He requested the State Level Bankers Committee (SLBC) to simplify this process through mutual coordination so that the MSME sector does not face any problems. Rakesh Sachan said that 90 lakh MSME units in the state are providing employment to crores of people.
He said that the state government has come up with a pledge scheme to make land easily available to entrepreneurs. Under this scheme, 11 private industrial parks are being built in the state, today the first park is being inaugurated in Jhansi. Sachan said that the government also plans to use the illegally occupied land as a land bank for industrial parks.
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