Brihad Loan Mela | 01 Jul 2022

Why in News?

  • On June 30, 2022, Uttar Pradesh Chief Minister Yogi Adityanath launched the Brihad Loan Mela at a function held at Lok Bhawan.

Key Points

  • On this occasion, the Chief Minister handed over symbolic checks of loans given to 9 handicraftsmen, artisans and entrepreneurs.
  • Under this program of mega loan fair organized in all 75 districts, 1 lakh 90 thousand beneficiary handicraftsmen of 'Prime Minister Employment Generation Programme', 'Prime Minister Mudra Yojana', 'Chief Minister Youth Self Employment Scheme', 'One District One Product Financing Scheme' etc. 16 thousand crore loans were disbursed to artisans and entrepreneurs.
  • On this occasion, the Chief Minister released the Annual Loan Scheme of Rs.2.95 lakh crore for the year 2022-23 and inaugurated the Common Facility Centers set up in 5 districts- Agra, Ambedkarnagar, Sitapur, Azamgarh, Siddharth Nagar under 'One District One Product Scheme' during the program.
  • With the establishment of Common Facility Center, handicraftsmen, artisans, entrepreneurs of 'One District One Product Scheme' will get an opportunity to connect with modern technology. This will improve the quality of the products and increase the income.
  • An MoU was exchanged between Additional Chief Secretary MSME Navneet Sehgal and Amazon VP Policy Chetan Krishna Swamy during the program before the Chief Minister. Under this, Amazon will help small units in exporting their products. Amazon is working to digitize small units. For this, a digital centre is being set up by Amazon in Kanpur. This will be the second centre set up by Amazon in the country after Surat in the state of Gujarat.
  • It is known that Amazon's digital center has been launched in Kanpur. Through this center, MSME handicraftsmen, artisans, entrepreneurs will be facilitated in marketing their products in the country and abroad.
  • Apart from this, self-help centres have been started in 35 districts of the state in collaboration with SIDBI. These centres will do the work of hand holding of new entrepreneurs. In future, these centres will be established in all the districts of the state.
  • Addressing the program, the Chief Minister said that the program of the Brihad Loan Fair is part of the 100-day action plan of the MSME department. The availability of credit to MSME entrepreneurs will accelerate economic activities. This will give employment to the youth. Also, the C.D. ratio of banks will also increase.
  • It may be mentioned that on January 24, 2018, 'One District One Product Scheme' was implemented. At present, the scheme is giving a new identity by making Uttar Pradesh a hub of exports. In the year 2016, the exports from the state used to be about 80 thousand crore rupees, which has now increased to 1. 56 lakh crores. At present, the state's unemployment rate is less than 3 percent.
  • The MSME Minister said that a loan of Rs 2 lakh 12 thousand 934 crore has been disbursed by the state government under the Annual Credit Scheme 2020-21 . Credit of Rs 83,061 crore has been disbursed to the MSME sector, which is 11.5 percent relative to the annual target. Under the Annual Credit Scheme 2022-23, a loan disbursement target of Rs 2.95 lakh crore has been set.