Industry & Economy
-
SSI
Small units grow by 9 lakh in 3 yrs: Mahabir
Our Bureau
BIG MEET: Small Mr Mahabir Prasad, Union Minister of Micro, Small Medium Enterprises, with Mr N. Palanisamy, Tamil Nadu Minister for Rural Industry, at a meeting in New Delhi on Wednesday. — Kamal Narang
New Delhi
June 20
The number of small and medium enterprises has grown by nine lakh to 1.28 crore units in the last three years, said Mr Mahabir Prasad, Minister for Micro, Small and Medium Enterprises.
While speaking at the first meeting of the National Board for Micro, Small and Medium Enterprises (NBMSME) on Wednesday, Mr Prasad said these units employ 3.13 crore people, depicting an annual growth of 4.57 per cent in these years.
Mr Prasad stressed the need for coordinated all-round development of micro, small and medium enterprises. He added that recognising delivery of credit as a serious problem for this sector, the Government announced a `policy package for stepping up credit to small and medium enterprises'.
In the package, the public sector banks have been advised to fix their targets of credit delivery to SMEs in order to achieve a minimum 20 per cent year-on-year growth, with the objective of doubling the annual flow of credit to the sector within five years.
Availability of adequate credit on affordable terms is vital for these enterprises to modernise and become competitive.
Dr Syeda Hameed, Vice-Chairperson of the board, stressed the need for the greater role of the Government to uplift artisans and women-owned enterprises.
More Stories on :
SSI
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
