UP govt targets Rs 15,000 cr loans for MSMEs to ease working capital woes

UP aiming to double MSME exports to Rs 2.40 trillion in 3 years

The Uttar Pradesh government is aiming to facilitate bank loans totalling Rs 15,000 crore to the micro, small and medium enterprises (MSMEs) in the short term to overcome the working capital woes during the Covid-19 pandemic.

While 80 per cent of the state’s MSMEs have already started working at 80-100 per cent of their capacities after the lifting of the lockdown, efforts are being made to help the remaining units resume operations quickly.

“We are targeting to disburse loans worth Rs 15,000 crore to the MSMEs, for which the role of the commercial banks would be imperative,” UP Additional Chief