Economic restart plan: UP plans loans of Rs 2 billion to MSMEs, land bank for industries



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Written by Maulshree Seth
The | Lucknow |

Posted: May 14, 2020 10:13:57 AM


UP economy, Yogi Adityanath, UP MSME, Up small scale industries, Center fund to Up, Indian express UP Chief Minister Yogi Adityanath.

When the Center announced a loan guarantee of Rs 3 lakh crore to restart micro, small and medium-sized enterprises (MSME), the Uttar Pradesh government said on Wednesday that it would disburse loans worth Rs 1,600-2,000 crore to around 36,000 entrepreneurs belonging to the MSMEs sector in the state through ‘mela loan’ on Thursday.

Uttar Pradesh has one of the largest number of MSMEs units, around 90 lakh, in the country and the government claims that more than three million people are involved in this sector in UP. The state also hopes to be one of the biggest beneficiaries of the MSME package announced by the Center.

“Currently, Uttar Pradesh has the largest number of MSMEs in the country. We had started schemes like “A product of a district” to boost this sector, but it was affected by the coronavirus pandemic. While we thank Prime Minister Narendra Modi for boosting this sector, we plan to disburse around Rs 1,600-2,000 crore to almost 36,000 rupees tomorrow, “Chief Minister Yogi Adityanath said on Wednesday.

While officials have also been instructed to draw up a work plan to prepare the land bank for the creation of industries in the state, officials have also been asked to treat migrant workers with respect after reports of incidents in which some officials were seen misbehaving with workers.

“The Chief Minister has instructed that a huge land bank could be prepared in the state, as we have a large amount of land in the form of vacant government land. It has instructed that those lands be identified with either the revenue, irrigation or industry department and made available to those interested in creating industries, “said additional chief secretary Awanish Kumar Awasthi.

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