CM agrees to provide 100 acre land for MSME Varsity

Hyderabad, Dec 21 : Union Minister for MSME K H Muniyappa expressed concern over major banks not disbursing loans among the youth and entrepreneurs.

Speaking to media persons after holding a review meeting on Prime Minister’s Employment Generation Programme (PMEGP) with senior executives of banks and State Government officials at the National Institute of Micro, Small and Medium Enterprises (NIMSME) here, he said of nearly 16,000 applications received under the scheme, about 4,000 have been resolved. However, he said that performance of banks in Andhra Pradesh in disbursing loans under the scheme was low.

Earlier, while addressing the golden jubilee celebrations of NIMSME, Chief Minister N Kiran Kumar Reddy assured to provide 100 acres of land for setting up MSME University on the city’s outskirts. He called upon the youth to focus on entrepreneurship than depending on jobs. He claimed that nearly 4.20 lakh youth have been provide jobs under the Rajiv Yuva Kiranalu Scheme and about 60,000 youth are undergoing treatment.

The Union Minister, in his speech, informed that a MSME training Centre would be set up in Visakhapatnam at an investment of Rs 150 crore. He said that about MSME centres have so far achieved 90 per cent placements and nearly 30 per cent of youth trained by the MSME Centres have become entrepreneurs. INN