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    Last updated: 17 Jun, 2020  

    Modi THMB Quick disbursal of credit to MSMEs crucial: Modi

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    SME Times News Bureau | 17 Jun, 2020

    In an interaction with Chief Ministers via video conferencing, Prime Minister Narendra Modi on Tuesday stressed importance of providing timely credit MSMEs.

    The Prime Minister said there is significant importance of agriculture, horticulture, fisheries and MSMEs in the participating States, provisions for which have been made under Atmanirbhar Bharat Abhiyaan.

    Talking about the provisions to provide timely credit to MSMEs, he said that if quick disbursal of credit to industries is ensured through Bankers Committees, these industries will be able to start working quickly while also ensuring provision of employment opportunities.

    Smaller factories require guidance and hand-holding, he said. He mentioned the importance of working together on value chains to give fillip to trade and industry, he added.

    Specific Economic Activity Points in the states should work 24 hours a day and loading and unloading should be quickened to give further boost to economic activity, Modi said.

    The Prime Minister mentioned the benefits set to accrue to farmers through reforms in the agriculture sector, including new avenues to sell produce, increase in income which in turn would increase demand in the economy.

    New opportunities for North-East and tribal regions in the areas of farming and horticulture are set to be created, with opening up of new markets for organic products, bamboo products and other tribal produce, he said.

    The States will also benefit from a cluster based approach for local products, he said, adding that such products should be identified at each block and district level for better processing and more effective marketing, he stated.

    Modi emphasized on the need of working together to ensure that the announcements made under Atmanirbhar Bharat Abhiyaan fructify at the earliest.

     
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