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June 20, 2018

Loans taken for MSMEs – Bengal leads among States

Loans taken for MSMEs – Bengal leads among States

It is a well-known fact that Bengal has one of the most successful policies regarding the micro, small and medium enterprises (MSM) sector. As a result of the Trinamool Congress Government’s comprehensive policy, small-scale enterprises are thriving in the State.

The success of the State’s MSME sector has been acknowledged by the Central Government earlier too. Now, another report has done the same.

The total amount of loans extended to medium enterprises in Bengal during the 2015-16 fiscal was Rs 2,659 crore, which increased to Rs 5,851 crore during the 2016-17 fiscal. The number of people the loans were extended to were 1,25,457 and 4,36,208, respectively.

The Central Government’s scheme for MSMEs is divided into three categories, according to the amount of loan extended. From the lowest to the highest, the categories are Shishu, Kishore and Tarun for loans upto Rs 50,000, upto Rs 5 lakh and upto Rs 10 lakh, respectively.

Under the Shishu category, for the last few years, Bengal has been coming second. Under the Kishore category, during the 2015-16 fiscal, loans worth Rs 2,377 crore to 1,18,927 people. During the 2016-17 fiscal, the number loan-takers increased by 105 per cent, which increased to 348 per cent of the new number during the 2017-18 fiscal.

These numbers how that under Chief Minister Mamata Banerjee, MSMEs are headed for a brighter future.

Source: Bartaman