The state’s economy depends on MSMEs, according to Yogi Adityanath

The chief minister claims that Uttar Pradesh’s economy has improved from sixth place in the nation in 2017 to second place currently.

LUCKNOW: Micro, Small, and Medium Enterprises (MSMEs) are critical to the growth of the state’s economy, which jumped from sixth to second place nationally in 2017 according to statements made by Chief Minister Yogi Adityanath on Thursday.

MSMEs form the foundation of all economies worldwide. MSMEs account for the majority of employment in the state, second only to agriculture.

In the state, there are 90 lakh MSMEs. Inaugurating a ₹20,000-crore bank loan initiative for these units on International MSME Day, Adityanath stated that UP’s economy has grown from sixth to second place in the nation since 2017.

Information regarding the Mukhyamantri Sukshma Udyami Durghatna Bima Yojana was also disclosed by him.

The chief minister stated, “Projects of over ₹24,000 crore have been rolled out in the state’s defence corridor,” while addressing the crowd at an event held at Lok Bhawan.

On this occasion, the Chief Minister opened the 11th Pledge Park in Jhansi and presented the Vishwakarma Awards. The state government’s initiative to encourage the establishment of private industrial parks is known as Promoting Leadership and Enterprise for establishment of Growth Engines, which is what the commitment stands for.

Among those in attendance for the occasion were principal secretary Alok Kumar, IIDC Manoj Kumar, and MSME minister Rakesh Sachan.