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LUCKNOW :
Hoping to revive its coronavirus-affected economy, the Uttar Pradesh government said Sunday it will generate 90 lakh of new jobs in existing MSMEs and encourage entrepreneurs to establish smaller industries by offering loans on easy terms.
Ninety lakh people could get jobs if a job is added to the workforce of each of the state’s 90 existing micro, small and medium-sized enterprises (MSMEs), according to Prime Minister Yogi Adityanath.
In addition to this suggestion, Adityanath on Sunday asked officials to prepare a “detailed action plan” to motivate entrepreneurs to establish new MSMEs units.
Loan fairs will be organized in each district May 12-20, according to a government statement, which promises credit on “generous terms.”
He also said the rules will be relaxed and “made transparent” for new MSME unit owners.
An official said banks were also asked to make loans to existing units so they can expand their workforce.
In recent days, the UP government has said it is working on plans to create around 20 lakh of jobs for migrants returning home from other states due to the national blockade imposed after the coronavirus outbreak.
Previously, the state cabinet also passed an ordinance putting several labor laws on hold for the next three years, hoping this will help revive the industry.
Adityanath said the coronavirus crisis has offered the state an opportunity.
“We will accept this as a challenge and make the state the center of the MSME sector,” said a press release.
He said the plan is to provide employment “locally with minimal capital.”
“It is my commitment that this sector in Uttar Pradesh achieve its glory as before,” said Adityanath.
He said that Uttar Pradesh has a very rich history of MSMEs, and the only district, a product plan is proof of this.
Adityanath said bankers will make loans on easy terms to every entrepreneur who establishes a new unit.
Announcing loan fairs, for which entrepreneurs can apply online, he said bankers were instructed about it at a meeting of the State Committee of Bankers.
“Officials should motivate more entrepreneurs to establish micro, small and medium-sized industries in the state. Prepare a detailed action plan as soon as possible for this,” he said.
“Despite the recession, this sector has contributed significantly to the growth of the state’s per capita income in the last three years. We will further increase per capita income through this, “he said.
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