UP targets to provide credits worth Rs 15000 cr to MSMEs

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Yogi Adityanath

The Government of Uttar Pradesh is looking forward to making emergency credit line guarantee scheme available for the MSMEs under the ‘Atma Nirbhar Bharat Abhiyan’ and is targetting a sum of Rs 15,000 crore to be given as loans for the cause, said Navneet Sehgal, Additional Chief Secretary (ACS), Government of Uttar Pradesh on September 17.

As per a report by Times of India, Navneet Sehgal was addressing a webinar organised by the Reserve Bank of India on post-COVID scenarios while he announced the credit provisions for MSMEs. Sehgal, at the webinar, said 80 percent of the units have resumed operations with 80 to 100 percent capacity since the lockdown was lifted.

Also Read: Aatma Nirbhar Bharat Abhiyan will strengthen MSMEs, Rural & Tribal sectors: Nitin Gadkari

The state is trying to get those defunct back to operations as early as possible. The ACS, while citing that the growth of MSMEs are quite good in Uttar Pradesh as compared to other states, said the clusters under the ‘One Nation One Product’ scheme had been identified in all the districts. He further said that the banks under the state level bankers committee should identify two ODOP products and provide loans for the same.

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