India

Yogi Government Revitalizes UP’s MSME Sector, Disburses 6.5 Trillion Loans, Creating Vast Employment Opportunities for the Youth

The MSME sector, long neglected by preceding administrations, is undergoing a renaissance under Yogi Raj, fortifying Uttar Pradesh’s economy. Chief Minister Yogi Adityanath’s initiatives have not only revitalized the once-flagging MSME sector but also positioned Uttar Pradesh on a trajectory to become the country’s leading economic powerhouse.

Over the past six and a half years, the Yogi government has disbursed loans amounting to Rs 6,55,684 crore, fostering self-reliance among the state’s youth, women, entrepreneurs, and small-scale business owners. This concerted effort has notably benefited artisans, craftsmen, and small entrepreneurs, generating over 2.5 crore jobs in the MSME sector.

Since assuming office, Chief Minister Yogi Adityanath has prioritized the MSME sector, introducing several schemes to incentivize investment within the state. Programs like the ODOP Scheme, Mukhyamantri Gramodyog Rozgar Yojana, Mukhyamantri Yuva Self-Employment Scheme, and Vishwakarma Shram Samman Yojana have injected fresh vigor into MSMEs while concurrently addressing youth employment.

Also read: Father kills daughter and her lover as she steps out to meet him at 4 am in UP’s Budaun

The Yogi-led government’s strategies have yielded significant dividends. What were once disheartened traditional entrepreneurs, previously compelled to relocate due to disillusionment, are now not only providing jobs to other states’ youth but also showcasing their craftsmanship globally. Upon assuming power, the Yogi government initiated loan fairs and facilitated unit setups alongside loan disbursal, culminating in over 90 lakh operational MSME units within the state. Furthermore, more than Rs. 6.5 lakh crore in loans have been distributed in the last six and a half years, reviving a sector that was facing existential challenges.

The annual targets set by the Yogi government for loan disbursement have consistently been exceeded. In 2017-18, loans worth Rs 46,594 crore were distributed, surpassing the set target by 149 percent. Similarly, in subsequent years, the loans disbursed exceeded their respective targets, exemplifying the government’s commitment. Notably, in the current fiscal year, loans amounting to Rs 1,73,336 crore have been distributed, already reaching 172 percent of the annual target before the fiscal year’s completion.

Also read: Father kills daughter and her lover as she steps out to meet him at 4am in UP’s Budaun

Chief Minister Yogi Adityanath’s vision and proactive measures have not only reinvigorated the MSME sector but have also propelled Uttar Pradesh towards economic preeminence, signifying a remarkable turnaround in the state’s economic landscape.

Srushti Sharma

Recent Posts

JP Nadda Slams Rahul Gandhi’s ‘Match-Fixing’ Claims As ‘Desperation Of Losing’ Polls

Rahul Gandhi's opinion piece appeared in a national daily and sparked political uproar. Opposition parties…

5 hours ago

Poverty In India Reduced Via Tangible Boost In Household Living Standards, Incomes

In 2022–23, poverty under the revised $3.00 line stood at just 5.25 per cent in…

5 hours ago

Chhattisgarh: Seven Maoists Killed In Indravati National Park Operation

Five Maoists were killed in two separate encounters with security forces in Chhattisgarh’s Bijapur district,…

6 hours ago

Carney Invites Modi To G7 Summit, Highlights India’s Global Supply Chain Role

Canadian Prime Minister Mark Carney said the most populous country, with the fifth-largest economy, must…

6 hours ago

RBI Frontloads Rate Cuts To Boost Growth Amid Low Inflation: Crisil

The Reserve Bank of India (RBI) has frontloaded its rate cuts to support economic growth,…

7 hours ago

PM Modi Urges Global Action On Coastal Resilience At Nice Summit

PM Narendra Modi on Saturday called for urgent global action to build infrastructure that can…

7 hours ago