Economic package to boost to UP MSMEs: Minister

The economic package announced by Prime Minister Narendra Modi will give a massive boost to the MSME sector in Uttar Pradesh and pave the way for generation of additional employment opportunities in the state, senior minister Sidharth Nath Singh said on Wednesday.

Economic package to boost to UP MSMEs

"The ambitious package will also go a long way in fulfilling the vision of Chief Minister Yogi Adityanath and make the state generate massive job opportunities and help it emerge as a major supplier in the world," UP MSME minister Sidharth Nath Singh tweeted.

He said Prime Minister Narendra Modi has brought a "game-changer" in the MSME sector. Singh said details presented by Finance Minister Nirmala Sitharaman "goes beyond the expectations of the MSMEs wish list. India moves towards making of #AatmanirbharBharat."

In another tweet, he said since tenders of up to Rs 200 crore in government procurement will not be global tender, it will help #MSME to do business with enthusiasm and also help them to become #Aatmanirbhar. The finance minister on Wednesday announced Rs 3-lakh crore collateral-free automatic loan for businesses, including MSMEs. As India grappled with the consequences of the coronavirus lockdown, Prime Minister Modi announced a Rs 20 lakh crore package to revive the economy and exhorted people to be 'vocal for local'.