Post News Network
Bhubaneswar, Jan 8: Disappointed at the dismal coverage of credit to entrepreneurs of the state, Chief Minister Naveen Patnaik Thursday urged banks to proactively consider covering more and more of first generation entrepreneurs in fulfilling their dreams of setting up units in the state.
Addressing the inaugural function of the third edition of Micro Small and Medium Enterprises (MSME) Trade Fair 2015 organised by the MSME department, the Chief Minister said, “The coverage of credit to the entrepreneurs of the state is dismally poor. During the current financial year as on September 2014, only 6.7 per cent of the credit has been covered under the credit guarantee scheme of Government of India. I call upon the banks to proactively consider covering more and more of the first generation entrepreneurs under the said scheme in fulfilling their dreams of setting up units.”
Elaborating on Reserve Bank of India guidelines for development of Micro and Small Enterprises (MSE) units, Patnaik urged all banks to follow the guidelines with all seriousness to create a win-win situation for them and the entrepreneurs.
As per latest census, there are about 1.5 million enterprises providing employment to 3.3 million people in the state, he said.
Orissa is among the top ten states in terms of providing employment. The growth rate of MSMEs in Orissa is 32 per cent against the all-India average of 28 per cent. The growth rate of employment has been 29 per cent against the all-India average of 26 per cent, said the Chief Minister, adding that Orissa is one of the few states to have brought out State Export Policy 2014 with the objective to boost export by 10 per cent every year.