MSME initiatives start yielding results, credit to sector up 20%: DFS Secy
MSMEs with loan between Rs 10 lakh to Rs 5 crore have the lowest deliquency rate, The government has taken a slew of measures, including tax concessions in the budget, for micro, small and medium enterprises (MSMEs) with an annual turnover of up to Rs 250 crore and lowering of the interest burden.
Finance Ministry said the various initiatives taken by the government has started yielding results with loans to the sector witnessing a growth of 20 per cent. "MSME initiatives start yielding results! Credit to Micro sector up 20% YoY; MUDRA loans contribute to offtake; PSB share in first time borrowers 79%. Transformational shift underway.
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