The Odisha government has set an ambitious target of facilitating Rs 50,000 crore credit flow from banks to the micro, small and medium enterprises (MSMEs) in the state by 2019.
"The MSME department is making all out efforts to ensure credit flow to the units goes up sharply. In 2014-15, loans advanced to MSMEs by banks stood at Rs 9,142 crore, 92 per cent increase over Rs 4,500 crore credit disbursed in 2013-14. We are aiming at extending Rs 50,000 crore loan to MSMEs and if the credit growth maintains its current tempo, we would be able to achieve the target," said a senior government official.
In the next four years, the MSME department has proposed to promote 150,000 enterprises in the state with creation of employment opportunities for 400,000 youths and setting up of additional 60,000 village industries through Khadi and Village Industries Board.
The department is giving final touches to its Entrepreneurship Development Policy (EDP) expected to be notified in three months. The entrepreneurship development policy would stress on measures like awareness, promotion, skill development, networking and mentoring besides attempting to change the mindset of target groups. The policy aims at conducting entrepreneurship development programmes at block level and later providing handholding support to the youths to help them become entrepreneurs.
Under the policy, an entrepreneurship development society would be set up with incubators to provide training not just for establishment of new units, but also imparting continuing education in different aspects like product design, packaging, technology up-gradation, and financial management and marketing.
Plans are also afoot to set up mini food parks in all districts of the state under the Food Processing Policy, 2013.
