Big gift for small business: MSME is given a package of Rs 20,000 crore


Banglahunt Desk: The Union Cabinet met on Monday under the chairmanship of Prime Minister Narendra Modi. Many important decisions have been taken in this meeting. The BJP government has announced Tk 20,000 crore for the first MSME sector in the country

The Ministry of Urban Housing has announced a special micro loan project. Small shops or street vendors will get loans for this project. More than 50 lakh shopkeepers will get the benefit of this long lasting loan.

In addition, there are more than six million MSMEs across the country. Following the coronavirus epidemic, the Prime Minister has decided to allocate for MSMEs considering the importance of the sector. A package of Rs 20,000 crore has been approved for MSMEs.

Earlier, the Modi government had said that it had arranged loans of Rs 10,000 for 5 million footpath traders in the country. Vendors will also be encouraged to make digital payments.