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Central govt to stand guarantee for loans up to Rs 45000 crore to empower MSME sector: Panda

Updated: Jul 13, 2018 10:51:44am
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Central govt to stand guarantee for loans up to Rs 45000 crore to empower MSME sector: Panda

New Delhi, July 13 (KNN) With a view to increase the flow of assistance to MSME sector, the central government would stand guarantee for loans up-to Rs 45,000 crore in 2018-19, said Union MSME Secretary Arun Kumar Panda.

He said the guarantee would strengthen the MSME sector, create more job opportunities and increase number of units in the country, according to a report in UNI.

Addressing a gathering at a MoU signing ceremony between the Tata Steel and the Central Tool Room and Training Center (CTTC) Bhubaneswar, Panda said till last year Rs 5 lakh credit linkage was provided to various MSME units by the Union government.

Regarding more loan assistance to MSMEs, he said discussions were already held with various industrial organizations and the officials of the Odisha government.

Discussion was also held about finding good market for the MSME products and how to provide more facilities MSME units under GST, he added as quoted by UNI.

Besides, Ministry is giving importance to set up industrial clusters in 117 undeveloped and aspirant districts of the country including ten districts in Odisha, Panda added.

With 10 CTTC centers at present, the centers at Bhubaneswar, Aurangabad and Mumbai have been accorded international recognition and 10 more would be opened in second phase, Union Secretary added.

Out of which the MSME ministry is considering setting up CTTC in each aspirant district of Odisha, Panda said, adding that discussion was also on to set up small industrial clusters in coastal districts of Odisha.

Also, ministry is planning to set up small perfumed industrial units in Ganjam where Kewda flower are cultivated in large scale, Panda added.

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