Business

New formula of share market of MSME, Gadkari said complete plan

Union Minister Nitin Gadkari

In the meeting, Nitin Gadkari said that MSME is going through a difficult phase. There are 6 crore MSMEs in the country, in which more than 11 crore people have got jobs. He said, exports will increase due to the strength of MSMEs. Restructuring of 25 lakh MSMEs is expected.

Union Minister Nitin Gadkari

Narendra Modi cabinet met on Monday. This was the first cabinet meeting of the second term of the Modi government. Many important decisions were taken in the meeting to give relief to the country and countrymen battling the corona virus. Union Ministers Nitin Gadkari, Prakash Javadekar and Narendra Singh Tomar attended the meeting. In this meeting, the decisions of the Modi cabinet and the approval given to the decisions were discussed in detail. Nitin Gadkari informed about several decisions to revive the MSME sector. There is also a new formula in the stock market.

Nitin Gadkari said that two funds have been created for MSMEs. The first distress assessment fund, which has a provision of 4 thousand crores, while the second one has been called the Fund of Funds, which is 50 thousand crores. Both these shares will be listed in the stock market very soon.

In the meeting, Nitin Gadkari said that MSME is going through a difficult phase. There are 6 crore MSMEs in the country, in which more than 11 crore people have got jobs. He said, exports will increase due to the strength of MSMEs. Restructuring of 25 lakh MSMEs is expected.

Strong MSAE plans to buy 15 per cent equity. A fund of 4 thousand crores has been given to revive the weak industries. Gadkari said that historical decisions have been taken for MSMEs. There are 6 crore small businesses associated with MSMEs, who will get big benefit from this scheme. 2 lakh MSMEs will be resumed with the new fund.

With this, the turnover limit of MSME has been increased to Rs 5 crore. In this meeting, Union Minister Prakash Javadekar said that the decisions taken in today’s meeting will help in increasing employment. More than 60 million MSMEs have an important role in the country. The government has taken big decisions so that people can do their work properly. Arrangements have been made to give loans to MSMEs.

Javadekar said, there is a provision to give a loan of 20 thousand crores for MSMEs. Salon, paan shop and cobbler will also benefit from this scheme. The government is working towards making business easier. There is a plan of 3 lakh crores to give loans to MSMEs. Loan scheme has been introduced for the street vendors. Those on street tracks will get a loan of 10 thousand.

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