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MSME loan surges 2.5 times in FY 2020-21: ACS

As a result of effective measures taken by the Yogi Adityanath government, the banks disbursed two and half times more loans to Micro Small and Medium Enterprises (MSME’s) in the financial year 2020-21 as compared to 2016-17.

Navneet Sehgal, additional chief secretary, MSME, on Monday informed that in the financial year 2020-21 banks disbursed ?73,765 crore loans to MSMEs.

This was two and half times more as compared to the loan amount of ?28,136 crores disbursed by banks to MSMEs in 2016-17 four years ago.

In the last four years, 2.6 crore people also got employment and an investment of ?5 lakh crore was made in the state, said Sehgal.

“Despite lockdown and pandemic in 2020-21, the state witnessed a spike in the disbursement of loans to MSMEs. In the last four years around 74 lakh new units have been set up in the state,” said Sehgal.

In the financial year 2020-21, banks disbursed loans to 34,80,596 MSMEs and 63 lakh people got employment.