Uttar Pradesh Plans Rs 2000 Crore Loans to MSMEs & Land Bank for Industries

The Uttar Pradesh government has said that it would disburse loans worth Rs 1600-2000 crore to around 36,000 entrepreneurs belonging to the MSME sector in the state by ‘loan mela’.

UP has around 90 lakh numbers of MSME units in the country and the government claims that over 3 crore people are engaged in this sector in Uttar Pradesh. Also, the state expects to be one of the biggest beneficiaries of the MSME package declared by the Centre.

CM Yogi Adityanath said, “Currently, Uttar Pradesh has the largest number of MSME units in the country. We had started schemes such as ‘One district one product’ to give a boost to this sector but it got hit because of the coronavirus pandemic. While we thank PM Narendra Modi for giving boost to this sector, we plan to disburse about Rs 1600-2000 crore loan to nearly 36,000.”

Adding to it, instructions were given to officials to make a work plan to prepare land bank for setting up of industries in the state. Officials have also been asked to treat migrant labourers with respect following reports of incidents wherein some officials were seen misbehaving with the workers.”

Additional Chief Secretary Awanish Kumar Awasthi has said, “The Chief Minister has instructed that a huge land bank could be prepared in the state as we have large amount of land in the form of government land which is lying vacant. He instructed that such land should be identified whether it is with the revenue, irrigation or industry department & made available for those interests to set up industries.”