Due to Investment Friendly Policies, MSME of UP Ranks First in India

Owing to the investment friendly policies of the Yogi government, thr MSME sector of UP has gained the first position in the country. The medium, small and micro enterprise units have broken records in providing investment and employment in the state. In the last four and a half years, more than Rs five lakh crores have been invested in the state and three crore people have got employment.

MSME Sector Breaks Record in Investment and Providing Employment in Uttar Pradesh

It was the apathy of the previous governments which had forced the MSME sector to languish for want of survival. Due to this, the majority of bhulthe industries had migrated to other states. From 2017 onwards CM Yogi took many important steps to revive the MSME sector.

The government ‘s order to make purchases of 25 percent of its annual budget from MSME came handy for the sector. The result of this has been that in the current financial year till November 10, the government procurement from MSMEs through GeM portal was 69.6 percent i.e. 3855 crores. The total purchase in four and a half years through GeM had been more than Rs 15,000 crores.

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The UP government also made a record in giving loans to MSME units. The loans to the tune of Rs 2,70,611 crore was disbursed by the Yogi government in the last four and a half years. World Bank Approves $500 Million Loan to India for RAMP Programme to Strengthen MSME Sector.

VbIn this regard, Dr. Navneet Sehgal, Additional Chief Secretary, MSME said that the entrepreneurs had also invested the equal or more money against the loans given by the banks. Three crore people have got employment opportunities directly and indirectly in these industries.

About 92 Lakh Units Got Loans in Various Schemes

In coordination with the government, 91,83,833 units have got loans under various schemes. In this, loans worth Rs 41,193 crore were given to 7,87,572 units in the financial year 2017-18, Rs 47,764 crore to 10,24,265 entrepreneurs in the financial year 2018-19 and Rs 62,831 crore to 17,45,472 entrepreneurs in 2019-20. In the financial year 2020-21, 34,80,596 entrepreneurs have been given loans worth Rs 63,038 crores. In the financial year 2021-22 till November 30, a total loan of Rs 28,583 crore has been given to 21,45,928 entrepreneurs.