UP gears up for flood managementUP CM Yogi Adityanath

Virendra Singh Rawat

Uttar Pradesh chief minister Yogi Adityanath today underscored the significance of the micro, small and medium enterprises (MSME) in the domestic and global economy.

Yogi said UP is home to more than 9 million MSME units. “In 2017, the state (UP) was the sixth-largest economy in India, but today, it has risen to the second place.”

“Economic growth has made UP a leader in employment generation. MSME entrepreneurs have been crucial in advancing the state’s economy,” he added.

He termed UP as fortunate to have a long tradition of local artisans and craftsmen. However, the lack of proper incentives had led to a decline in the MSME sector in recent decades till 2017, he lamented.

“By 2017, MSME entrepreneurs faced frustration and disappointment, and the state was lagging behind in economic and employment growth,” the CM claimed.

Recognizing that MSMEs are the second largest sector for employment after agriculture, Yogi mentioned that continuous efforts since 2017 revitalized the MSME sector.

The CM noted UP had created a favourable investment environment, with a strengthened rule of law and security system, which are crucial for industries.

He highlighted the ongoing development of Defence Corridor in UP for making India self-reliant in defence production. An investment of Rs 24,000 crore has already been made in the mega project.

On this occasion, Yogi initiated the disbursement of Rs 20,000 crore in bank loans to the MSME sector.

He also distributed loans to beneficiaries of the PMEGP, MYSY, ODOP, and Mudra Yojana and handed out toolkits to recipients of the Vishwakarma Shram Samman Yojana, ODOP, and KVIB.

Additionally, he inaugurated a Pledge Park in Jhansi, and launched the RAMP (Raising and Accelerating MSME Performance) scheme.

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