Centre to provide Rs 45K crore credit guarantee to banks for MSME sector in FY19



The Central Government would provide credit guarantee to the tune of Rs40,000-45,000 crore to the banks during FY 2018-19 which would help in increasing credit flow to MSME sectors and creating more employment opportunities in this sector, said Union MSME Secretary Dr Arun Kumar Panda here today on the sidelines of the signing of MoU between CTTC, Bhubaneswar and steel behemoth Tata Steel.

The MSME Ministry provided credit linkage to over five lakh small and medium entrepreneurs till last fiscal, added Dr Panda.

The Union Ministry of Micro, Small & Medium Enterprises has decided to set up 15 more Central Tool Room & Training Centres (CTTCs) in the country including one centre in an Aspirational District of Odisha, informed the Union Secretary.

“The new CTTCs would provide quality training facilities and create employment opportunity for the educated youth of the nation,” said Dr Panda.

At present there are 18 CTTCs in the country of which the Bhubaneswar, Aurangabad and Mumbai centres have got international recognition, informed Panda.

Dr Panda further stated the Ministry is mulling over opening of small industries cluster in the coastal districts of Odisha. Citing the example of the Keoda flowers cultivation in Ganjam district, Dr Panda said a pilot programme would be taken up soon to set up small clusters for perfume and aromatic industries in these localities.

The Union Secretary further said that the MSME Ministry is giving priority on setting up of clusters in 117 backward/Aspirational districts of the country. Plans are afoot to set up 10 such clusters in Aspirational districts of Odisha too, he added.

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