Rs 3,107 crore loan for state MSMEs to revive Odisha economy post pandemic  

BHUBANESWAR:  The MSME sector in Odisha has been provided highest loan of Rs 3,107.82 crore in 2020-21 amidst the Covid-19 pandemic for revival of the State’s economy.

The loan has been provided under the Emergency Credit Line Guarantee Scheme introduced by the Centre to help revival of different sectors hit by the pandemic. 

Official sources said assistance from Odisha government and cooperation from the banks have made the scheme a success in the State.

Of the Rs 3,308.69 crore sanctioned for 2020-21, Rs 3,107.82 crore has already been released to the entrepreneurs.

Similarly, loan of Rs 115 crore has been released to 4,358 entrepreneurs under the Prime Minister Employment Generation Programme. 

The State government has initiated several other measures to make the MSME sector vibrant. These included provision of seed money of Rs 40,000 each to 2,814 members of SHGs totalling Rs 7.74 crore.

Besides, subsidy of Rs 53.69 lakh was provided to 21 SHGs to sustain them during the pandemic.

The department has written to the Centre to provide subsidy to three farmer producer companies, sources added.

Besides, the government has sanctioned a grant of Rs 1.63 crore to Odisha University of Agriculture and Technology (OUAT) for establishment of an incubation centre at Rangeilunda in Ganjam district to boost production in fisheries sector.

Other measures include provision of Rs 8.5 crore for ORMAS for branding and proper packaging of Odisha’s food produces for better marketing.

Chief Minister Naveen Patnaik had announced a stimulus package of Rs 289.42 crore for MSMEs on December 15, 2020.

The package included assistance measures such as interest subvention, top-up subsidy, reimbursement of state GST and waiver of annual institutional maintenance charges.