MSMEs key to making India a developed nation by 2047: Karandlaje

Jaipur, Jan 13 (PTI) Union Minister Shobha Karandlaje on Tuesday said the MSME sector will play a crucial role in making India a developed nation by 2047, as it is the second-largest source of employment after agriculture.

Reviewing the progress of the Prime Minister Vishwakarma Yojana in Rajasthan at Udyog Bhawan here, the Minister of State for Micro, Small and Medium Enterprises and Labour and Employment said the Centre is focused on strengthening MSMEs to boost jobs and entrepreneurship.

Addressing reporters after the meeting, she said around 10.5 lakh MSME units have received subsidies worth about Rs 29,000 crore from the central government under employment-linked schemes.

She said loans availed by entrepreneurs from Scheduled Caste and Scheduled Tribe communities attract a subsidy of 35 per cent, while general category beneficiaries get a subsidy of 25 per cent.

"If an MSME loan is Rs 1 crore, the Centre provides a subsidy of Rs 35 lakh to SC-ST beneficiaries," she added.

The minister said the Centre has extended loans worth around Rs 30 lakh crore to MSME entrepreneurs across the country.

Highlighting the scale of the sector, Karandlaje said over 7.5 crore MSME entrepreneurs have registered on the Udyam portal, and more than 30 crore people are employed in the MSME sector nationwide.

She said Rajasthan has performed well in implementing the Prime Minister Vishwakarma Yojana and currently ranks second in the country.

"Around 1.13 lakh toolkits have already been distributed in Rajasthan, and another one lakh toolkits will be provided soon," she pointed out.

Officials of departments associated with the scheme have been directed to ensure faster implementation, Karandlaje said, adding that the Centre will work closely with the Rajasthan government to accelerate MSME growth and extend credit to more entrepreneurs. PTI AG BAL BAL