UP Tops In Financing Units Under PM Employment Generation Plan

UP Tops In Financing Units Under PM Employment Generation Plan

Lucknow, Oct 11 (TNA) Uttar Pradesh may well boast of having financed the highest number of units in the country under Prime Minister Employment Generation Programme (PMEGP).

The UP government has facilitated to provide a total of over Rs 123 crore as margin money through various banks to about 3588 units under PMEGP with a total cost of the projects worth over Rs 450 crore during the current financial year so far.

In the financial year 2021-22, during six months from April to present , applications for the sanction of about Rs 608 crore of more than 19000 projects been forwarded to the banks.

Out of these, The margin money to the tune of about Rs 157 crore to about 4770 units have been sanctioned while Rs 123 crore of 3588 units has already been disbursed. About Forty thousand people have got employment in these projects.

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UP Tops In Financing Units Under PM Employment Generation Plan

Significantly, it has been done in just over six months of current financial year, one and a half times of the target set for the entire 2021-22. As per estimate based on these statistics, the achievement during 2021-22 is likely to be about 150 percent.

Earlier, during the previous financial year 2020-21, against the target of sanctioning Rs 258.19 crore margin money for MSME and Khadi units, Rs 327.92 crore was disbursed to 9954 units, the achievement of over 127 percent.

The state of UP is fast emerging as an investment hub in the country with MSME sector contributing a lot. The emphasis n the last four and a half years, the effect of change in work culture has started showing. Now the youth of the state are becoming not only job makers but also job creators.

Chief Minister Yogi Adityanath has taken many important steps to change the condition and direction of the state which is counted as BIMARU state. More than 21 new policies of various departments have been implemented in the state and it has risen from 14th to second rank in Ease of Doing Business.

As a result of this, for the first time in comparison to the previous governments, proposals for investment of about 4.68 lakh crores have come in the state. Navneet Sehgal, Additional Chief Secretary, MSME said that the state has the largest number of industries in the country financed under PMEGP. This has provided employment opportunities to thousands of people directly and indirectly.

The Uttar Pradesh Khadi and Village Industries Board has installed almost three times the units from April 1 to June 16 as compared to last year. This year, 646 units have been installed in PMEGP with an investment of 85 crores while about 21 crores have been disbursed as subsidy.

Meanwhile, addressing the State Level Monitoring Committee (SLMC) ,the Additional Chief Secretary directed that the disposal of the applications received on the PMEGP e-portal should be ensured within the stipulated time period of 26 days. Along with this, training of PMEGP entrepreneurs to whom margin money has been given so far should be completed.

He said that the work of physical verification and geo-tagging of PMEGP units established by the Government of India between 2016-17 and 2019-20 in the entire state was being done. This work has been completed in 16 districts of Uttar Pradesh, the rest are under process.

He also directed the departmental officers to expedite this work by coordinating with the agency doing the work of physical verification and geo-tagging.

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