'Rs 1.2 Lakh Crore disbursed to MSMEs from relief package' says Nitin Gadkari

New Delhi, Aug 10: Union Minister for Micro, Small and Medium Enterprises Nitin Gadkari said that the changing the definition of MSMEs, Scheme of Fund of Funds, Champions portal, extended credits to MSMEs will certainly accelerate the wheels of economy which had slowed down due to lockdown in the wake of the coronavirus pandemic. He said this today while addressing a Virtual MSME Conclave organized by FICCI Karnataka State Council.

 

 

Appealing to all the stakeholders to do away with all kinds of fear and negativity, the Minister assured that the government is doing everything possible to make the country a super economic power. He further informed that loans of about Rs. 1,20,000 crore have been disbursed to MSMEs out of Rs. 3 lakh crore announced in the relief package.

 

 

In May, the Union Cabinet had approved additional funding of up to ₹3 lakh crore to micro, small and medium enterprises (MSME) that was announced by Finance Minister Nirmala Sitharaman as part of the ₹20 lakh crore economic package.

 

Discussing the problem of delayed payments, he said that instructions have been given to all Ministries, Departments, and PSUs to clear pending bills of MSMEs within 45 days. He also urged all Chief Ministers to issue directions for clearing MSME dues by their State/UT Ministries/Deptts and PSUs on priority. The Minister added that we are closely monitoring the complaints lodged at SAMADHAN Portal also.

 

The Minister informed the participants of the webinar that we are working on the idea of a Land Bank and Social Micro Finance Institution which will be very helpful for entrepreneurs and persons who want to run small shops and businesses.

 

While discussing Atmanirbhar Bharat Abhiyan as envisaged by Prime Minister, he said that handloom, handicrafts, khadi industries, and agro-based industries should be encouraged especially in 115 aspirational districts. We will have to plan special policies for the agricultural, rural, and tribal sectors because they have a huge potential for creating employment.

 

Minister from Karnataka Government Jagdish Shettar, SBI Chairman, and members of FICCI participated in the webinar.