​​​
  1. Economic Survey 2018: MSME sector faces major problem in availing credit

Economic Survey 2018: MSME sector faces major problem in availing credit

Economic Survey 2018: India's MSME sector faces a major problem in terms of getting adequate credit for expansion of business activities, the Economic Survey said today. The survey tabled in Parliament by Finance Minister Arun Jaitley pointed out that the micro, small and medium enterprises (MSME) received only 17.4 per cent of the total credit outstanding.

By: | New Delhi | Published: January 29, 2018 5:57 PM
FM Arun Jaitley will present Union Budget on February 1st . Economic Survey 2018: The survey tabled in Parliament by Finance Minister Arun Jaitley pointed out that the micro, small and medium enterprises (MSME) received only 17.4 per cent of the total credit outstanding.

Economic Survey 2018: India’s MSME sector faces a major problem in terms of getting adequate credit for expansion of business activities, the Economic Survey said today. The survey tabled in Parliament by Finance Minister Arun Jaitley pointed out that the micro, small and medium enterprises (MSME) received only 17.4 per cent of the total credit outstanding. “Growth of credit to micro and small enterprises increased by 4.6 per cent, while credit to medium enterprises decreased by 8.3 per cent,” it said. Elaborating on the status of the major schemes implemented for the MSME sector, the survey observed that loans extended under the Pradhan Mantri Mudra Yojana during 2016-17 have crossed the target of Rs 1.8 lakh crore. “Of this amount, Rs 1.23 lakh crore was lent by banks while non-banking institutions lent about Rs 57,000 crore.

Also read: Budget 2018: How Modi government can take care of MSMEs interests in union budget

In December 2017, total number of borrowers were 10.1 crore, out of which 7.6 crore were women,” said the economic survey 2018. It highlighted the crucial role played by MSMEs in India towards providing large-scale employment opportunities at comparatively lower capital cost than large industries and also in industrialisation of rural and backward areas.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Go to Top