Economy

Govt raises loan limit for MSMEs to over ₹1 crore

Our Bureau Mumbai | Updated on October 02, 2018 Published on October 02, 2018

The government has enhanced the loan limit for micro, small and medium entrepreneurs to over ₹1 crore under the Prime Minister Employment Generation programme.

Giriraj Singh, Minister, Micro, Small and Medium Enterprises, said the government was lending between ₹25 lakh and ₹1 crore to successful entrepreneurs at 15 per cent interest subsidy but such entrepreneurs can now apply for loan over and above the limit.

Inaugurating the Khadi Fest 2018 in Mumbai, he dedicated an online portal for entrepreneurs to seek financial assistance and emphasised on the government’s aim to generate employment in rural India.

KVIC sales

Khadi and Village Industries Commission turnover last fiscal was up 34 per cent at ₹2,508 crore largely led by innovative initiatives taken by the government to promote khadi clothes and household articles.

KVIC has set sales target of ₹3,200 crore for this fiscal.It had organised 50 exhibition on the occasion of Gandhi Jayanti and plans to conduct 150 exhibition globally in the next two months.

Published on October 02, 2018
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