Over 22 Lakh MSMEs Registered Between March 2018 – March 2019

Speed Post News Network

New Delhi  : Altogether 22.83 lakh Micro, Small and Medium Enterprises (MSMEs) were registered on Udyog Aadhaar Portal in the country during March 2018 to March 2019.

The Ministry of MSME facilitates access to finance for Micro and Small Enterprises through its schemes / programmes namely Prime Minister’s Employment Generation programme (PMEGP), Credit Guarantee Scheme for Micro and Small Enterprises and Credit Linked Capital Subsidy Scheme.

The credit flow to MSME sector by all Scheduled Commercial Banks during the last 3 years was : Rs 1070129.48 crore in the year ending March 2017, Rs 1149353.83 crore in the year ending March 2018, and Rs 1497687.10 crore in the year ending March 2019.

The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) was launched by the Government of India to make available collateral-free credit to the micro and small enterprise sector. This has also helped better credit flow to the micro and small enterprises. This information was given by Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprises, in written reply to a question in Lok Sabha on July 25, 2019, according to a PIB release.