E-Paper
Will take Credit Deposit ratio to 60-62%: Yogi
Yogi was addressing a program held at Lok Bhawan here to distribute toolkits under the Vishwakarma Shram Samman Yojana and disburse loans worth ₹50,000 crore to the MSMEs
Lucknow Chief minister Yogi Adityanath, on Saturday, said that the Credit Deposit ratio has experienced an increase of 10-to-11%, reaching 55-56% in the past six years, despite the period of the Covid pandemic. He revealed that the state government intends to raise the CD ratio to 60-62% in Uttar Pradesh.
Yogi was addressing a program held at Lok Bhawan here to distribute toolkits under the Vishwakarma Shram Samman Yojana and disburse loans worth ₹50,000 crore to the MSMEs. The program was organised on the eve of Vishwakarma Jayanti celebrations when Prime Minister Narendra Modi is set to launch the Prandhan Mantri Vishwakarma scheme at the national level on Sunday.
According to an official press release, loans worth ₹66,000 crore have been disbursed in the state over the past six years. Out of this, loans worth ₹16,000 crore were distributed to 1.9 lakh handicraftsmen, artisans, and small entrepreneurs earlier, and loans worth ₹50,000 crore were disbursed on Saturday.
Yogi stated that the ‘New Uttar Pradesh’ of ‘New India’ is implementing the vision of Prime Minister Narendra Modi at the grassroots level. He emphasised that the goal of the “double engine government” -- the BJP governments at the Centre and in the state -- is to make the youth, women, businessmen, and entrepreneurs of the state self-reliant. He highlighted that Uttar Pradesh has become the first state in the country to provide loans to entrepreneurs on such a large scale in one go.
“In 2018, our government initiated the One District One Product Scheme (ODOP) for the traditional enterprises of Uttar Pradesh, which was an innovative initiative. The objective behind the scheme was not only to provide a platform for the talented youth of the state but also to establish U.P. as an excellent destination for investment, in which it has succeeded,” he said.
He noted that PM has considered the ODOP scheme of U.P. as the foundation to realise the goals of “Local for Global” and “Self-reliant India”. He added, “Today, within no time, the ‘One District One Product’ scheme of U.P. has become the scheme of the entire country.” He highlighted that U.P. has a substantial base of MSMEs that has given a new identity to the state. He further said that the state government should provide a subsidy to entrepreneurs on the loan taken, while also suggesting that a portion of the loan should be subsidised if the entrepreneur is linked to a digital payment system.
