Uttar Pradesh Chief Minister Yogi Adityanath has reasserted his commitment to opening up more employment avenues for skilled youth by lending support to small, micro and medium enterprises (MSME). The state government has loaned more than Rs 10 crore to over three lakh micro small and medium enterprises (MSME), including almost 30,000 new units. This move is expected to bring jobs to the youth of the state “at their doorstep” and make them self-reliant.
During the pandemic, the Central government joined hands with the Uttar Pradesh government to encourage migrant workers, local craftsmen and MSMEs to speed up industrial development. Through a virtual event, where the loan was announced, advanced tool kits were also distributed to about 5,000 artisans and workers from the handlooms, handicrafts, textiles, metal crafts, food processing, and pottery industries.
Earlier this year, in May, the Uttar Pradesh government had given a loan of Rs 2,002 crores to over 56,000 new MSME units under its ‘Online Self-Employment Programme’, immediately after the the economic package was released. In the following month, it the state government gave more than four lakh MSME loans of Rs 10,999 crores after PM Modi launched the Atmanirbhar Uttar Pradesh Rojgar Abhiyan. Funds were offered yet again, a third time, when 2.50 lakh MSME units were given credit of about Rs 7,841 crores.
This financial assistance is expected to give a much-needed boost to the MSME sector, which has potential for job creation.