Jalandhar,November 02, 2018: Prime Minister Hon’ble Narendra Modi today launched MSME Support and Outreach Initiative from Vigyan Bhawan in New Delhi with aim to enhance credit access to Micro, Small and Medium Enterprises (MSME). Union Finance Minister Arun Jaitley and Minister of State for MSME Giriraj Singh were also present on this occasion.
The MSME Support and Outreach Initiative will run for 100 days covering 100 districts throughout in the country.
In Punjab the Ludhiana, Barnala, Jalandhar and Kapurthala districts are among in these 100 districts of the country.
Harsimrat Kaur Badal Hon’ble Union Minister of Food Processing Industries presides over a function in this regard held at H.M.V College in Jalandhar today.
Entrepreneurs from different Micro, Small and Medium sector in large number attended this function.
Presiding over this function Harsimrat Kaur Badal said that today is a historic day for MSME sector because the initiative launched by Prime Minister would grow the MSME’s. She said that under the leadership of Prime Minister Sh.Narendra Modi, India has made all round progress in every sphere. Besides it the flow of Foreign Direct Investment (FDI) and the dignity of country have been gone up in the world while at the same time India has reached at 77th ranking in the ease of doing of World Bank. She said that in the Food Processing Ministry the flow of Foreign Direct Investment has been also doubled during past four years. She said that the GDP of country is increasing day by day and investors are showing interest after Union Government’s industrialist’s friendly policies.
Harsimrat Kaur Badal termed the GST as a revolutionary step in the country by adding that it has began new era of one nation-one tax. She said that definitely the GST would benefit country in the coming years and would also help in the progress of nation. She said that 40 different projects of worth Rs.1,500 crore have been brought to Punjab by her which will ensure employment to nearly 30,000 people.
The Additional Secretary in Ministry of Corporate Affairs Anjali Bawra, GEM Representative Raj Gaurav, Deputy Commissioner Jalandhar Virender Kumar Sharma, Deputy Commissioner of Central GST Mandeep Jalaota and UCO Bank’s Deputy General Manager, Zonal Head Arvind Kumar Kanthwal were also present on this occasion.
The motive of MSME Support and Outreach Initiative is to achieve 100 percent realization of the target in respect of the Ease and access to the credit, Ease of Cash flow, Access to market, Coverage of employees under social security benefits, Quality certification and Sectoral Ministry interventions. The entrepreneurs can get loan now up to Rs. One Crore online, in 59 minutes.
This move of the Union Government will further give a boost to putting Micro, Small and Medium Enterprises sector on the fast track to growth and help to generate employment in this sector.