No Waiving Of MSME Loans: Minister | SupportBiz

In Brief

No Waiving Of MSME Loans: Minister

 
The government is planning to provide additional assistance for revival of sick units

Union MSME Minister Kalraj Mishra has ruled out any proposal for waiving loans of micro, small and medium enterprises (MSMEs).

The MSME sector accounts for 36 percent of total industrial production, 40 percent of total exports.

Talking to reporters in Coimbatore, he said the government is planning a scheme to provide additional assistance for revival of sick units 

 Over four lakh MSME units in the country have been identified as sick and the government is planning to revive them rather than leaving them as non-performing assets.

He said that the ministry had identified Chennai as one of the 15 locations to set up tool rooms during this plan period.

However, the ministry would consider sanctioning an extension office in Coimbatore so that MSME in the region could benefit, he added.

He also sought land from the association for considering setting up a Technological Centre.