The Uttar Pradesh (UP) government led by Yogi Adityanath government has achieved its target in distributing loans to Micro, Small and Medium Enterprises (MSME) units despite COVID-19 pandemic.
“Loans worth Rs 62,000 crore have been distributed to MSME units of the state during the period from April 1, 2020 to December 31, 2020, not only achieving the target three months ahead of time but surpassing many sectors in the process,” said Additional Chief Secretary, MSME Navneet Sehgal during a State Level Banking Committee (SLBC) meeting on Wednesday.
The state government has also achieved a substantial number of employment under the Mission Rojgar.
Employment Generation Through MSMEs in UP
“The credit to MSME units helped them continue with their activities even during the trying times of the pandemic and generated additional employment of 30 lakh. By the end of the current financial year, the total employment through MSME units is likely to cross 80 lakh-mark,” Mr Sehgal added.
Sidharth Nath Singh, MSME Minister of Uttar Pradesh Government have mentioned the impact of ODOP scheme =for enabling the Micro businesses and employement generation in the state. “MSMEs are one of the prime focus area for UP. We aim to facilitate the best kind of ecosystem for MSMEs in teh state and in last 15 months, which were mainly dominated by COVID Pandemic, we managed to ensure a positive business ecosystem for the MSME sector.” mentioned Shri Sidharth Nath Singh.
The MSME sector comprises about 90 lakh units and UP accounts for about 14 per cent of the MSME units in the country. The UP government has consistently projected MSME as the growth engine of the economy of the state in terms of industrial activity and generation of employment.