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UP: Good news for unemployed youth as Yogi Adityanath government plans this big move

Chief Minister Yogi Adityanath has targeted banks to give 80 thousand crore loans to MSMEs in the next financial year.

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In a bid to increase employment opportunities for youth in Uttar Pradesh, Chief Minister Yogi Adityanath has targeted banks to give 80 thousand crore loans to Micro, Small and Medium Enterprises (MSME) in the next financial year. About 20 lakh MSMEs will benefit from this amount. More than one crore youth will get employment opportunities in the next year.

On the initiative of CM Yogi, during the COVID-19 period, work was done at various levels to provide employment to the youth in the private sector also. As a result of this, loans of Rs 61,977 crore have been given to MSMEs till December against the allocated target of Rs 61,759 crore in this financial year with special coordination of the state government. For the first time in the state, MSME has been given the highest ever loan in the Yogi government and it has provided employment opportunities to millions of youth. Apart from this, CM Yogi has proposed 100 million rupees for the self-employment scheme in the budget of the next financial year.

Economic expert Arvind Jaiswal said that in Uttar Pradesh, MSMEs are getting convenience from banks. Not only MSMEs are getting benefitted from this, but the economy of the state and the country is also getting strengthened. This has also led to direct and indirect employment opportunities in the private sector.

MSME Additional Chief Secretary Navneet Sehgal said that MSME is proving to be a growth engine for providing employment in the private sector to the youth. In the last four years, 49 lakh MSMEs have invested in the state. He informed that CM Yogi has given a target of giving a loan of Rs 80,000 crore rupees to MSMEs in the next financial year. This will benefit 20 lakh MSMEs and provide employment opportunities to one crore youth.

Adityanath has proposed Rs 250 crores for 'One district, One Product' (ODOP) for the next financial year in the budget. In ODOP last year, on 14 May, 26 June, 7 August and 3 December, more than 10 lakh beneficiaries were given loans of about Rs 30,000 crores through four online fairs.

Under the UP government, loans of Rs 46,594 crore in the financial year 2017-18, 57,808 crore in 2018-19, 71,080 crore in 2019-20 and 61,977 thousand crore in 2020-21 has been given. This is 100.35 percent of the target for this financial year. Total loans worth Rs 2,37,459 crore have been granted in the Yogi government till December.

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