Govt raises MSME lending target to Rs 27.5 lakh cr for FY25
New Delhi: The Union government has raised its lending target for Micro, Small, and Medium Enterprises (MSMEs) to Rs 27.5 lakh crore for FY25, marking an increase of over 10% compared to the previous year, media report said.
Secretary of the Department of Financial Services M Nagaraju on Wednesday said that the government aims to provide enhanced support to MSMEs in line with the commitments made in the Budget, reported Moneycontrol.
“We are keen to enhance MSME credit,” the DFS secretary noted, addressing the media at the launch of the NPS Vatsalya scheme, reported Moneycontrol.
The NPS Vatsalya scheme, also launched today enables children under 18 years of age to open National Pension System (NPS) accounts, aiming to secure their financial future.
“Fulfilling what is said in Budget within few months, shows that Budget speeches are not read but enacted upon,” said Finance Minister Nirmala Sitharaman, reported Moneycontrol.
M Nagaraju also stated that a meeting with officials from Debt Recovery Tribunals is scheduled for September 21, according to the report.
The discussion is expected to focus on the progress made in recovering funds currently stuck in the tribunals.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
