PM Modi to launch MSME support and awareness initiative, online loans up to Rs 1 cr in 59 minutes

Prime Minister Narendra Modi will today launch the Government Support and Outreach Initiative for Micro, Small and Medium Enterprises (MSMEs) at Vigyan Bhawan in New Delhi.

The initiative will provide small and medium-sized businesses with easier access to credit, markets, improved cash flow and online loans of up to Rs 1 crore in just 59 minutes.

Besides Delhi, similar launch programs will take place at 100 locations across the country, where Union ministers and state government ministers will be present. All of these locations will also be connected to Delhi, for the main event, which will include a special address by the PM. It is expected to address several issues of vital interest to the MSME sector.

The Union government has given high priority to the MSME sector in recent years. This awareness-raising and support program, which will extend over the next 100 days, covering the whole of the country, should allow an even greater synergy to the efforts made for this sector. The progress of this program, which will be implemented in mission mode, will be continuously monitored by senior officials of the governments of the Union and of the States.

Finance and Business Minister Arun Jaitley and Minister of State (I / C) for MSMEs Giriraj Singh are among those attending.

Earlier today, Modi tweeted that the “MSME sector is of vital importance to the Indian economy. The energy and dynamism of this sector are remarkable.

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