New Delhi: In its bid to further increase employment opportunities for the youth in the state, Uttar Pradesh Chief Minister Yogi Adityanath has targeted banks to give 80 thousand crore loans to Micro, Small and Medium Enterprises (MSME) in the next financial year. About 20 lakh MSMEs will benefit from this amount.
CM Yogi Adityanath also took major initiative during the Corona period, to provide employment to the youth in private sector as well. Loans of Rs 61977 crore (100.35) have been given to MSMEs till December against the allocated target of 61,759 crore in this financial year with special coordination of the state government. For the first time in the state, MSMEs have been given the highest ever loan under the Yogi government which has helped in providing employment opportunities to millions of youth in the state. Apart from this, CM Yogi has also proposed Rs 100 crore for the self-employment scheme in the budget of the next financial year.
Economic expert Arvind Jaiswal has said that under the Yogi Adityanath government, MSMEs are not only getting convenience of loans from banks, but the economy of the state and the country is also being strengthened as a result of this. This is also directly and indirectly increasing employment opportunities in the private sector.
MSME Additional Chief Secretary Navneet Sehgal said that MSME is proving to be a growth engine for providing employment in the private sector to the youth. In the last four years, 49 lakh MSMEs have invested in the state. He informed that CM Yogi has given a target of giving loan of Rs 80 crore to MSMEs in the next financial year. This will benefit 20 lakh MSMEs and provide employment opportunities to one crore youth.
CM Yogi Adityanath has proposed Rs 250 crores for ‘One district, one product’ (ODOP) for the next financial year in the budget. In ODOP last year, on 14 May, 26 June, 7 August and 3 December, more than 10 lakh beneficiaries were given loans of about 30 thousand crores through four online fairs. The ODOP Virtual Fair was held from October 19 to 23 last year in the wake of the Corona pandemic. It was attended by 35 countries and around 1000 buyers from the country.
Loans to the tune of Rs 46,594 crore in the financial year 2017-18, 57,808 crore in 2018-19, 71,080 crore in 2019-20 and 61,977 thousand crore in 2020-21 in the Yogi government. This is 100.35 percent of the target for this financial year. Total loans worth Rs 2,37,459 crore have been granted in the Yogi government till December.
As compared to the above, previous Samajwadi Party government led by CM Akhilesh Yadav had issued Rs 13,248 crore for MSMEs in the financial year 2012-13, Rs 19,249 crore during 2013-14, Rs 22,439 crore in 2014-15, Rs 22,996 crore in 2015-16, Rs 28,136 crore in 2016-17 taking the total loan to Rs one lakh six thousand 68 crore.