'Govt to bring back glory of MSME sector'

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SME Times News Bureau | 10 May, 2020
The Yogi Adityanath government in Uttar Pradesh has decided to provide employment to 90 lakh people in Micro, Small and Medium enterprises (MSME).

At a meeting with officials in Lucknow, the UP Chief Minister said: "It is our commitment to bring back the glory of MSME sector. The present crisis due to coronavirus has given us an opportunity. We are taking it as a challenge to turn Uttar Pradesh into the hub of MSME sector. Banks will give loans to every willing entrepreneur on generous terms. This sector will provide at least 90 lakh job opportunities."

At present there are 90 lakh MSMEs units in the state. The CM said rules for all types of NOCs will be relaxed along with the environmental clearances for new units. For transparency, all certificates will be available in a single-window system, Adityanath said.

Uttar Pradesh has a rich history of micro, small and medium industries. The specific product of every district (one product in each district) is proof of this, he said.

Yogi said, "Entrepreneurs who set up units in this sector will be able to apply and get NOCs quickly. Online applications will be invited for loans from banks. Loans fairs will be organised between May 12 and May 15 in each district. Banks have been directed to provide loans on easy terms."

The Chief Minister said the officials should motivate more entrepreneurs to set up units in the state. "Prepare a detailed action plan as soon as possible. Despite the recession, this sector has contributed significantly to the growth of per capita income of the state in the last three years. We will further increase the income through this," he said.