1623 MSMEs closed from April 2020 to October 2021: MoS MSME

New Delhi, Mar 15 (KNN) During the period from April, 2020 to October, 2021 as many as 1623 Micro, Small and Medium Enterprises (MSMEs) have closed down, informed Minister of State for MSME Bhanu Pratap Singh Verma in a written reply to the Rajya Sabha.

He categorically mentioned that the number is inclusive of MSMEs closed in the tribal areas as well.

Verma listed out number of measures initiated by the Minister for promotion, development and enhancing the competitiveness of MSME sector, including the announcement of Aatma Nirbhar Bharat Abhiyan.

It highlighted the Rs 20,000 crore Subordinate Debt for MSMEs, Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for Businesses, including MSMEs (which has subsequently been increased to Rs. 5 lakh crore, as announced in Budget 2022-23) and several other schemes.

The MSME sector is among the worse hit due to the pandemic as units faced temporary to permanent closure including job loss.

In February, 2022 MSME Minister Narayan Rane had released the SIDBI survey stating that 67 per cent MSMEs were temporarily closed in FY21. (KNN Bureau)