PRIME MINISTER Yogi Adityanath on Thursday said economic growth has made him a leader in employment generation and attributed it to MSME entrepreneurs.
Speaking at an event where he distributed bank loans worth Rs 20,000 crore to MSME units on the occasion of International MSME Day, Adityanath said, “Economic growth has made UP a leader in employment generation. MSME entrepreneurs have been crucial in advancing the state’s economy… Uttar Pradesh is fortunate to have a long tradition of local artisans and craftsmen.”
The Chief Minister said that Uttar Pradesh is home to over nine million MSME units.
“In 2017, UP had the sixth largest economy in India, but today it has risen to the second position,” he added.
At the event, he also inaugurated the state’s 11th Mortgage Park at Jhansi and unveiled the MSMEs Ramp-up and Acceleration Performance (RAMP) Scheme.
“Besides, efforts have been made to revive distressed units under the RAMP scheme and important steps have been taken to raise the enterprises to new heights,” the chief minister said.
He said the newly inaugurated Rani Laxmibai Promise Park in Jhansi will be very beneficial for private sector entrepreneurs and highlighted the ongoing development of a defense corridor in the state aimed at making the country independent in defense manufacturing.
An investment of Rs 24,000 crore has already been made, he added.
Talking about the state’s MSME policy, which was introduced during the Covid-19 pandemic, the chief minister said its benefits included the successful advancement of the flattened factory initiative.
He also announced that like last year, the International Fair will be held in September.
Last year, the show attracted 70,000 shoppers. “The trade show provides an excellent opportunity to effectively market the state’s products. Uttar Pradesh has successfully showcased its MSME products at the International Trade Fair,” he added.
Announcing that MSME entrepreneurs will now have access to loans, exceeding Rs 20,000 crore, Adityanath said the Prime Minister’s Udyam Bima for MSME entrepreneurs has over 2.4 million registered entrepreneurs. “This scheme provides up to Rs 5 lakh benefits in case of disaster. Moreover, under the Prime Minister’s Yuva Udyam Vikas Abhiyan, steps have been taken to provide interest-free loans up to Rs 5 lakh, aiming to support 1 million micro-entrepreneurs over the next decade,” he said.
He also distributed loans to beneficiaries of PMEGP, MYSY, ODOP and Mudra Yojana and distributed funds to beneficiaries of Vishwakarma Shram Samman Yojana, ODOP and KVIB.
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