SIDBI to invest Rs 700 Cr in next five years
Rs 50,000 each for 38 displaced persons
Source: The Sangai Express / DIPR
Imphal, October 12 2023:
Chief Minister N Biren Singh has said that the Small Industries Development Bank of India (SIDBI) will invest Rs 700 crore in the next five years while launching the Manipur State Credit Guarantee Scheme (MCGS) at Hotel Imphal, today.
He also said that the State can provide employment opportunities to 28,000 youths in five years if the money to be invested by SIDBI is utilised properly.
The launch function was organised by the Planning Department.
At the function, the Chief Minister continued that the Government is ready to provide Rs 50,000 each to at least 38 displaced people at relief camps under the scheme.
The same amount (Rs 50,000) will be given to 200 displaced individuals in the first phase, N Biren added.
Expressing the need for everyone working in different fields to pick up their work at double speed in order to maintain the same level of development trajectory achieved prior to the current crisis, the Chief Minister said that everyone needs to face the difficult time unitedly to restore normalcy in Manipur.
The Chief Minister also assured that normalcy would return soon in the State.
Continuing that Manipur is just after Assam among the North East States and top among the small States in number of registrations to Micro, Small & Medium Enterprises (MSME) with a total of 51,199 registrations, he stated that MSME is very suitable in Manipur as people are eager to work and take up new activities.
Employment generation is an important factor for economic growth, he added.
Highlighting the benefits of the scheme, N Biren informed that a loan amount of Rs 50,000 would be provided to the beneficiaries initially for carrying out any activity for earning under the scheme.
Training for earning livelihood activities and marketing would also be provided to the displaced people, he said.
He continued that the displaced people can apply for Rs 10 lakh loan under One Family One Livelihood Scheme of the State Government once they return to their original places.
Chief Executive Officer, CGTMSE Sandeep Varma and Chief General Manager, SIDBI Arup Kumar also spoke on the facilities provided to first generation entrepreneurs under Credit Guarantee Scheme.
During the programme, dummy cheques of loans and loan sanction letters sanctioned by different banks were handed over to beneficiaries under One Family One Livelihood Scheme and Manipur State Credit Guarantee Scheme.
A promotional film of CGTMSE was also showcased.
Works Minister Govindas Konthoujam, Water Resources Minister Awangbow Newmai, Chairman of Manipur Industrial Development Corporation Ltd Kongkham Robindro, Chairman of Manipur Handloom and Handicraft Development Corporation Khongbantabam Ibomcha, MLAs Khumukcham Joykisan, Thongam Shanti, Thangjam Arunkumar, S Kebi, Commissioner (Textiles, Commerce & Industry) Pradeep Kumar Jha, officials of Planning Department, Bankers, entrepreneurs and beneficiaries also attended the programme among others.