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Himachal Pradesh aims to grant Rs 2,000 crore loan to MSMEs for economic revival

‘The package would go a long way in bringing the economy of industrial sector back on track.’

Statesman News Service | Shimla |

Himachal Pradesh Industries Minister Bikram Singh on Thursday said a loan of about Rs 1,250 crore has been disbursed to entrepreneurs and in total loans worth 2,000 crore will be given to MSMEs under Emergency Credit Line Guarantee scheme.

Addressing media here, he said officials of State Industries Department, after the announcement of Self-Reliant India Scheme (Atam Nirbhar Bharat), were motivating entrepreneurs to take advantage of it.

Even, the Additional Chief Secretary of Industries Department had interacted with entrepreneurs in Solan, Sirmaur, Bilaspur and Una district to discuss the issues faced by them in COVID-19 pandemic.

“It is expected that a loan of up to Rs 2000 crore in Himachal will be disbursed to entrepreneurs under the Emergency Credit Line Guarantee Scheme.

Apart from this, a fund of Rs 50,000 crores has been set up under the package for the units but at present, we are focusing on helping industries under duress in the state,” he added.

He welcomed the decision of making changes in the definition of micro-manufacturing and services and said around 99 percent of enterprises in our state were now falling under this provision.

He further stated that 5,175 industrial units and 99,672 workers benefitted from EPF support scheme.

He added 1191 units in which self-help groups and women groups were major stakeholders would be provided financial assistance to grow their businesses.

“The industrial package announced by Prime Minister Narendra Modi will benefit the industrial sector in Himachal Pradesh which has suffered extensive damage in COVID-19 pandemic.

The package would go a long way in bringing the economy of industrial sector back on track,” he added.