Following Centre’s announcement of the mega economic package, Manipur government distributed emergency financial assistance to 41 Micro Small and Medium Enterprises (MSMEs) of the state on Friday.
The assistance was provided in coordination with the State Bank of India and Punjab National Bank to enable the MSMEs to resume their normal functioning, according to a DIPR Manipur report.
Chief Minister N Biren Singh handed over the financial assistance to the well known MSMEs.
Speaking on the function, the CM Singh said that announcement of the economic package of Rs 20 lakh crore was a bold and historic step as the amount equals to 10 per cent of the total Gross Domestic Product (GDP) of the country.
The financial assistance in the form of loans from different banks to these enterprises to restart their normal activities would prove to be a success as repayment rate is now encouragingly high in the state, Singh said.
“The state to needs to focus on agriculture, horticulture and MSME sectors to revive the state’s economy in line with the Centre’s decision,” he opined.
“Manipur stands first in the number of MSME registration in the entire northeast,” Singh informed.
“Of these, 50 per cent MSMEs are owned by women,” Singh further said adding that the state’s future lies on agro-based industries and MSMEs.