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Sunday 5 July 2020

Yogi govt disburses loan of Rs 2002 cr to 56,754 entrepreneurs

The Uttar Pradesh government brought entrepreneurs and bankers together via video conferencing and picked from the pending applications

Within 24 hours of the economic package for micro, small and medium industries (MSME) announced by Union Finance Minister Nirmala Sitharaman, Uttar Pradesh Chief Minister Yogi Adityanath has disbursed a total of Rs 2002 crore loans to 56,754 entrepreneurs of MSME sector in the state. The chief minister hopes to provide employment to 2 lakh to 2.5 lakh people.

The Yogi government, sources say, had already made preparations to strengthen the MSME sector. The Uttar Pradesh government, before making the announcement today, had brought together entrepreneurs and bankers through video conferencing. From all the pending applications, the chief minister and his team picked 56,754 units of the industry based in the state that they thought best qualified for the loans.

Yogi govt disburses loan of Rs 2002 cr to 56,754 entrepreneurs

This move is expected to generate 2 lakh jobs in Uttar Pradesh, which has become the first state to disburse such a huge amount of money in the lockdown period immediately after the announcement of the economic package from the centre.

Today, Yogi sanctioned loans worth a total of Rs 2002 crore online, responding to pending applications. Cabinet Minister Sidharth Nath Singh was present on the occasion.

The chief minister also launched a job fair called Rozgar Sangam online today. The chief minister launched a companion portal for MSME too.

Yogi said on the occasion, “We will make workers the power centre of Uttar Pradesh.” Turning a threat into an opportunity, the chief minister said, “The lockdown is also a big opportunity for us to remove the stigma of migration. We are scaling up the skilling of workers and workers along with ensuring their return home.”

Yogi said, “We will endeavour so that the idols of Gauri (Goddess Durga), (Goddess) Lakshmi and Lord Ganesha should not come from China for Deepawali (Diwali). The terracotta artists in Gorakhpur have the necessary skill of making better sculptures than China.”

“The largest MSME sector of the country is in UP,” Yogi said, adding that 26 units of PPE kits had come up in Uttar Pradesh in the midst of the coronavirus epidemic.

There are 90 million MSME units in Uttar Pradesh, small and large, the chief minister said. “It will be our endeavour to create at least one new job in every unit,” he said.

Every district will focus on a product, the chief minister said, adding that his government was encouraging entrepreneurs to join this campaign.

Chief Minister Yogi seized the opportunity to launch a grand campaign “UP Aaiye, Udyog Lagaiye” (Come to UP, Set up Enterprise) under which, in the next 1,000 days, industries can get NOC. An official clarified, “Now the NOC will be given in 100 days and they (MSME units) will be entitled to relaxation in labour laws for 1,000 days.”

The state government has said that the rules are applicable for 1,000 days to industries engaged in manufacturing and production, but with certain conditions. These include registration of names and details of workers electronically in attendance register as per Section 62 of the Factory Act, 1948.

Except for environmental rules, all rules have been simplified. This is a campaign for entrepreneurs to employ all working hands available through a single-window system.

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