The government on Monday said in Rajya Sabha that six lakh industries under MSME have been restructured and urged the sector to look at opportunities for expansion following the global impact of coronavirus.
Replying to a query during the Question Hour in the Upper House, MSME and Road Transport and Highways Minister Nitin Gadkari said six lakh industries under MSME have already been restructured and by December 31, the extended date for restructuring, the numbers will increase.
"It is not practically correct to say anything about this, but because of coronavirus now lot of opportunities are with the Indian industries," Gadkari said in reply to another supplementary on impact of Coronavirus on MSMEs.
In reply to another query regarding job losses or production losses in the sector, the minister said, "The straight answer is no."
Stressing that the government is extending full support to MSMEs, the minister said that the recommendations of UK Sinha Committee have been accepted and "during January 2019 to January 2020, over six lakh accounts have been restructured under the circular covering loans of Rs 25,000 crore."
He added: "Finance Secretary has approved it...it will go to the Cabinet."