MSME breaks record in investment and employment generation in UP

Insight Online News

Lucknow, Dec 2 : Owing to the investment friendly policies of the Yogi Adityanath government, the Micro, Small & Medium Enterprises(MSME) sector of Uttar Pradesh is making rapid strides.

The MSME units have broken records in attracting investment and in employment generation in the state. In the last four and a half years, more than Rs five lakh crores have been invested in the sector in the state and three crore people have got employment, officials claimed here on Thursday.
Apathy of the previous governments had forced MSME sector to suffer and struggle for survival. Due to this, majority of these industries had to migrate to other states. From 2017 onwards when CM Yogi took over, many important steps were taken to revive this sector.

The government ‘s order directing to make purchases of 25 percent of its annual budget from MSME came as a boon for the sector. The result of this has been that in the current financial year till November 10, the government procurement from MSMEs through GeM portal stood at 69.6 percent i.e. 3855 crores.
The total purchase in four and a half years through GeM has been more than Rs 15,000 crores.

The UP government also created a record in giving loans to MSME units. Loans to the tune of Rs 2,70,611 crores was disbursed by the Yogi government during the last four and a half years.

In this regard, Dr. Navneet Sehgal, Additional Chief Secretary, MSME said here on Thursday that entrepreneurs had also invested equal or more money against the loans given by the banks. Three crore people have got employment opportunities directly and indirectly in these industries.

In coordination with the government, 91,83,833 units have got loans under various schemes. In this, loans worth Rs 41,193 crores were given to 7,87,572 units during the financial year 2017-18, Rs 47,764 crores to 10,24,265 entrepreneurs in the financial year 2018-19 and Rs 62,831 crores to 17,45,472 entrepreneurs in 2019-20.

In the financial year 2020-21, 34,80,596 entrepreneurs have been given loans worth Rs 63,038 crores. In the financial year 2021-22 till November 30, a total loan of Rs 28,583 crores has been given to 21,45,928 entrepreneurs.

UNIINDIA

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