Rs 12k cr credit for MSMEs

Odisha has set a target of Rs 12,000 crore advances by banks to the micro small and medium enterprises (MSMEs) in 2015-16.

In 2014-15, credit flow to MSMEs by banks stood at Rs 9,200 crore, a 92 per cent jump over Rs 4,700 crore loans disbursed in the previous year. In 2013-14, the rate of increase in credit flow to MSMEs compared to 2012-13 was only 10 per cent, according to Panchanan Dash, secretary, state MSME department.

Speaking at a seminar on MSME financing, organised by Confederation of Indian Industry (CII), Dash said, in 2015-16, the target is to create 85,000 jobs by promoting 34,000 MSME units. Till June, 2015, 7,140 MSMEs have been promoted and 22,792 new jobs created.

For providing seamless facilitations to entrepreneurs, the state government is undertaking the restructuring of the district industries centres (DICs) with installation of modern amenities and providing them with adequate staff.

"The government has already issued notification for putting in place single window clearance mechanism at the DIC level," he added.