Mega MSME loan Mela; Loans worth over Rs 1500 cr to be distributed

Last Modified Wednesday, 13 May 2020 (19:51 IST)
Lucknow: On the back drop of announcing Rs 3 lakh crore package for the sector, Uttar Pradesh government will launch a for the MSME sector from Thursday.
"I thank Finance Minister Nirmala Sitharaman for announcing Rs 3 lakh crore loans to MSME sector. Uttar Pradesh has the largest number of units linked to MSME sector. I also welcome the Finance Minister's announcement on EPF contribution, " UP CM Yogi Adityanath said here on Wednesday .
The CM also announced that from tomorrow, UP government was going to start an online loan fair for MSME sector. Around 36000 business persons will get loan worth Rs 1600 to Rs 2000 crore.
On the direction of the CM, the state was turning into a MSME hub with target to set up 9 million new units to provide similar number of jobs .A mega loan Mela will be organised in the state from May 12 to 20 to provide loan to the new MSME and industrial units, want to set UP in the state.
Official here that relaxation has been given of getting NOC for setting up MSME units in the state ." Now 1000 days has been given to get NOC, that too during the last 100 days for a new MSME unit," he said. The government was targeting to set up 90 lakh new MSME units , which can create at least 90 lakh jobs.
Except for environment norms, all the rules of NOC has been relaxed and a time frame has been set up for given the NOC nod by the department. The system has been made fully automatic for hassle free sanctions.
Sources said the during the loan Mela , any entrepreneur can seek by applying online. The government has already gone for single window system for helping out the MSME and new industrial units to be set UP in the state.
UP government has already relaxed the labour laws so that the manufacturing units are not troubled.Besides CM has also asked the authorities to make UP a ready made garment hub of Asia .(UNI)