Central package will boost MSMEs and State’s economy: CM
Chief minister Trivendra Singh Rawat has thanked Prime Minister Narendra Modi and Union Finance minister Nirmala Sitharaman for the provisions made for the MSME sector. The provisions for cottage industry and MSME announced by Sitharaman as part of the Rs 20 lakh crore special economic package announced by the PM will definitely pump in new life to the domestic economy. Encouraging small industries will also strengthen the vision of self-reliant India.
Rawat said, “The MSME sector in Uttarakhand will also benefit considerably from the package announced by the Centre. The industries which have resumed operations will also receive an impetus, which will improve production and employment. With various central projects under construction in Uttarakhand, the contract extension decision will enable timely completion of these projects. Whatever needs to be done by the state government will be done to ensure that the state’s MSME units benefit from the central package,” said the CM.
Rawat further said that the centre has made provision for Rs 3,00,000 crore loan for the MSME sector with no guarantee required for the loan. This will provide considerable relief to the micro, small and medium enterprises. The Rs 20,000 crore loan arrangement for stressed MSME industries will benefit about two lakh industries, he said.
Further, increasing the investment and turnover limit in MSMEs will enable such enterprises to expand. The government deciding to discontinue global tenders for works amounting up to Rs 200 crore will benefit the domestic industries. MSMEs will also be provided e-market linkage and their dues in the government sector will be cleared within 45 days. With Rs 50,000 crore equity infusion through fund of funds in MSME, the market will once again pick up pace, said the CM.
Thursday, 14 May 2020 | PNS | Dehradun
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