Home Industry 38 K Cr Credit Flows To MSME

38 K Cr Credit Flows To MSME

Bhubaneswar: Odisha has achieved its highest ever credit flow under the Annual Credit Plan of Rs 38,000 crore with the proactive support of the Banks.

The MSME Department has released incentives to various units amounting to Rs 60 Crore.

Odisha is the leading state in the eastern region and second highest in the country in terms of sanctioning number of projects.

 In the last financial year, more than 4000 units with project cost of Rs 456 crores were sanctioned under PMEGP.

In order to help the MSME’s of the state and reboot the economy affected by the Pandemic, Chief Minister Naveen Patnaik announced a special package of Rs 289 Crore.

The timely help has come as a savior for the units that were on the verge of closure. Apart from this to help the tribal during the Pandemic an Apiculture program is being implemented in the tribal dominated district of Sundargarh & Keonjhar by leveraging funds from District Mineral Fund (DMF).

Around 7500 tribal, mostly Women SHG members will be assisted with project cost of Rs 20 crore.

The Odisha’s sustained efforts have also helped exports from the state to reach Rs 80,000 crore in the FY 2020-21. Odisha State Industries Corporation has achieved a business worth Rs 612 Crore with the main focus on MSMEs.

The Startup Odisha also have not lagged behind .Under the visionary leadership of our Chief Minister Naveen Patnaik Odisha is among the top three in the country.

The inauguration of the state of art startup center-O-HUBB in July will be another land mark in the evolution up startup ecosystem in the State. With 1070 registered Startups,17 Incubators,15 Nodal Agencies, 110 Mentors, 335 women led startups, 5lakh sq.ft incubation space and above all a dynamic startup Policy Odisha is emerging as the No1 Startup destination in the country. Our startups have done wonder in the field of Medical Science, Bio-technology and IT.

As part of the 5T Initiative, Odisha also aims for an MSME Census to be taken up diligently to create the much required database for policy planning. A three-year District Plan is also in the making in consultation with the District Collectors and various Stakeholders. In the next three years Odisha intends a massive 25000 Micro enterprises which will be created under the PMEGP. The main focus will be on converting WSHGs to potential Micro entrepreneurs. To boost the marketing of MSME products, maximum emphasis will be given on Packaging and the services of IIP as well as Startups engaged with innovation in packaging will be roped in.

Odisha is one of the top performing state in the Prime Minister Formalization of Micro Food processing enterprises (PMFME) Scheme. Keeping in view Odisha’s potential in food processing, the state government is giving a major boost to large number of micro unorganized food processing units mainly run by SHG women. Abundance of sea fish, vegetables, fruits and other crops makes Odisha an important destination for the food processing industry. In the coming days, there is no doubt that the MSMEs of the state will be in the frontline on the country as major food processing industries.

Commenting on Odisha’s successful development of the MSME sector, Satyabrata Sahu, Principal Secretary, MSME Department has said that, “Odisha has been actively pursuing the interest of the MSME sector giving financial incentives and cash linkages. They have demonstrated that they can sustain the economy even during a pandemic. As Odisha has nurtured a large number of Women SHGs, our focus will be developing them into entrepreneurs and thereby strengthen the rural economy.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here