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CM Yogi Gives ₹2505 Cr Loan to Boost Covid- Hit UP MSMEs

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Uttar Pradesh is by enlarge the largest state of the country in terms of population and MSMEs as well.

The State has around 52.38 lakh MSMEs which is around 11.55% of the total number of MSMEs in India 2015-16. And this figure is expected to be close to 75 Lakh MSMEs as of today. With the second-highest number of MSME units in the country, Uttar Pradesh is a leading exporter of MSME products in categories like handicrafts, engineering goods, carpets, readymade garments, leather products etc.

Uttar Pradesh chief minister Yogi Adityanath dispensed a loan of 2505.58 crore to more than 31,542 micro, small and medium enterprises (MSME) in a bid to help the state’s youth get back on their feet following the second wave of Covid-19. The Online Swarozgar Sangam is aimed at rebuilding the MSME sector to counter the devastation wreaked by the Covid pandemic on the sector. The state government also aims to create employment opportunities by increasing the pace of industrial development.

A couple of days ago, the Chief Minister of Uttar Pradesh, Yogi Aditya Nath came forward and expressed his vision and plan for the state’s employment generation framework.  CM Yogi Aditya Nath mentioned, “Today the youth in the state are focusing on creating job opportunities rather than running after jobs. Schemes like the Prime Minister’s Employment Generation Programme, Mukhyamantri Yuva Swarozgar Yojana, One District One Product have provided support to the youth. The women and daughters of the state have shown great enthusiasm in self-employment programs. Women are actively involved in traditional crafts like Chikankari of Lucknow.”

CM Yogi also launched a special portal and laid the foundation stone of Common Facility Center in nine districts of the state. The foundations were laid in Ghaziabad, Mainpuri, Mau, Mirzapur, Muzaffarnagar, Bijnor, Agra, Moradabad and Bhadohi. These centres will provide entrepreneurs with all the components starting from production to marketing of the chosen products of the district under the ODOP scheme, such as raw material, design, production process, quality improvement, research and development, environment and energy conservation.

Prime Minister Narendra Modi has also appreciated the Yogi Adityanath government by pointing out Uttar Pradesh’s efforts for increasing investments and improving the ease of doing business in the last four years. PM Modi’s praise came over a tweet by Chief Minister Yogi Adityanath in which he said that despite coronavirus, foreign direct investment increased in Uttar Pradesh. Tagging a media report which said FDI increased in Uttar Pradesh despite Covid, Adityanath said Prime Minister Modi will lay the foundation stone of the Aligarh node of the defence corridor.

Sidharth Nath Singh, Cabinet Minister of Uttar Pradesh Govt. for MSMEs and Investments Ministryhave also expressed his commitment by adding, “In last four years, Uttar Pradesh as a state has created a success story for MSMEs by creating a positive ecosystem for employment generation through promoting MSMEs. Our initiatives and schemes such as One Product One District are getting featured as landmark initiatives for making the local entrepreneurs more powerful. Investment flow towards UP is also very encouraging for the youth and MSMEs.”



SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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