The BJP Visakhapatnam unit is organising a virtual intellectual conference at 5 p.m. on Tuesday with the special focus to enlighten, empower and give a thorough understanding to the MSMEs, IT Industry and startups on the economic stimulus package Aatma Nirbhar Bharat announced by Central government.
Rajya Sabha MPs Suresh Prabhu and G.V.L. Narasimha Rao, Director MSME (AP & TS) D. Chandra Sekhar and STPI Joint Director M.P. Dubey are the speakers.
Entrepreneurs, industry experts, accounting and taxation professionals, members from the Chamber of Commerce and Trade Associations will be taking part in the conference.
MSMEs are the backbone of tier-2 cities’ economy and they are the worst hit due to COVID- 19. The future of over 15% Indian population working in these MSMEs and subsidiaries have become volatile. To ensure the revival of these companies, the Union government had announced a package of over ₹3.5 lakh crores in Aatma Nirbhar Bharat Abhiyan, said MLC P.V.N. Madhav.
Across the nation, loans worth ₹79,000 crore for approximately 19 lakh applicants were sanctioned and ₹35,000 crore was disbursed till June 24 under the 100% Emergency Credit Line Guarantee Scheme (ECLGS) of Aatma Nirbhar Bharat Abhiyan, he said.
Many deserving and potential companies are unable to access the loans due to lack of awareness and inadequate support system from the State government departments, said BJP Visakhapatnam president Medapati Raveendra.
General secretary K.V.S.N. Prasad said, “The BJP Visakhapatnam unit has taken the initiative to support the MSMEs through this meet and also open multiple helpdesks in the Visakhapatnam Parliamentary constituency with support from MSME, DIC, banks and trade associations.”
Suman Krishna Narasapurapu, conference coordinator, said, “The State has got the potential to claim close to ₹30,000 crore and Visakhapatnam alone is eligible to absorb over ₹10,000 crore but till date banks have disbursed approximately only ₹1,320 crore in the State.”