New Delhi, June 27 (KNN) More than 50, 706 proposals have got in-principle approvals and 27, 893 proposals have been sanctioned as on March 31, 2019, said Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprises (MSME).

In a written reply to Lok Sabha, Gadkari said “The Solar Charkha Scheme for MSME Sector was launched in 2018 with an outlay of Rs.550 crore to set up 50 Solar Charkhas across the country. As many as 19 proposals have been received under the Scheme so far.”

The ‘Solar Charkha’ scheme was launched by President, Ram Nath Kovind. The schemes main objective was to generate 5 Crore Jobs. The schemes focus is to give training to the rural people so that they can earn better livelihoods for themselves. The uniqueness of this project lies in the fact that these looms and spindles will be completely powered by solar energy.

The 59-minute loan scheme was launched late last year for the benefit of MSMEs. It formed part of Prime Minister Narendra Modi's 12-point action plan for the MSMEs announced in November 2018.

The scheme has already drawn a healthy response from the borrowers and some of the PSU banks associated with this portal are now keen on hiking the credit limit. (KNN/Lavannya)