UP Government doubles down on MSME loans worth over Rs 2 lakh crore

The Uttar Pradesh Government has given loans worth over Rs 2, 12, 454 crore to MSME sector in the last three and half years.

Uttar Pradesh Government has given loans to MSMEs worth Rs 2, 12, 454 crore to MSMEs in the last three and a half years which is twice more than the loans given by the previous government in five years.

Additional chief secretary, MSME, Navneet Sehgal, said, “Currently, UP has 8,07,537 MSME units. Even during the ongoing Covid-19 pandemic, MSME units have not only increased business but have also given employment opportunities to over 3 million people.”

The data issued by the MSME department shows that loans around Rs 46, 594 crore were given to MSMEs  in the first year of the Yogi Adityanath government in the year 2017-18.

Further, the loan amount has gone up to Rs 57, 808 crores in 2018-19 and Rs 71, 080 crore in 2019-20. The Government has disbursed loans of Rs 36, 972 crore till September 2020, which takes the total of the last three years to Rs 2,12,454 crore.

The UP State Government is bullish in creating a vibrant atmosphere for the MSMEs.