Navodayam scheme by Andhra Pradesh govt could restructure MSME loan

By VARINDIA - 2019-08-13

Navodayam scheme by Andhra Pradesh govt could restructure MSME loan

The Andhra Pradesh government led by Chief Minister YS Jagamohan Reddy is set to launch outreach programme 'Navodayam' for empowering thousands of ailing Micro, Small and Medium Enterprises (MSMEs) in the state, with a one-time restructuring of loans that will provide the required lifeline for small industrial units.

 

The state has been witnessing a surge in growth of MSMEs with over 10,068 units set up in 2018-19 with an investment of Rs 3,443 crore, providing employment to 93,240 people. There are about 86,000 MSMEs in the state have been identified for restructuring under Navodayam with an outlay of Rs 3,900 crore, sources in the Department of Industries and Commerce said.

 

"In AP, MSMEs generate the maximum employment after agriculture. This is a state government initiative to rejuvenate and give topmost priority thrust to facilitate and coordinate growth and development of the MSME sector," said state Industries Minister Mekapati Goutham Reddy. The state cabinet approved the scheme at its recent meeting and the Department of Industries and Commerce subsequently worked out the modalities to make Navodayam operational.

 

While the state government has earmarked Rs 50 crore in the 2019-20 budget for rejuvenation of MSMEs, the Department of Industries and Commerce approached the Reserve Bank of India for mobilising the required financial resources for the project."Navodayam will provide a lifeline to stressed MSMEs by ensuring that all eligible units are permitted for one-time restructuring of accounts up to March 31, 2020. We are also creating a new ecosystem for rejuvenation and development of MSMEs in the state through a slew of initiatives," said Principal Secretary for Industries and Infrastructure Rajat Bhargava.

 

Through these measures, infrastructure worth over Rs 3,900 crore would not become non-performing assets (NPAs), he noted. Under Navodayam, a special cell is being created at each District Industries Centre, headed by the General Manager, to provide handholding support to all restructured MSMEs for six months to stabilise the accounts.


 CIO  - SPEAK
 MORE  FROM WEB
 LEAD STORY
 SOFTWARE  Placeholder image
LTI wins a multiyear IT operations deal with Hoist Finance AB

LTI wins a multiyear IT operations deal with Hoist Finance AB

Larsen & Toubro Infotech has won a multiyear engagement with Swedish financial service...

Ramco Systems joins hand with NelsonHall to launch Digital Payroll Maturity Assessment Tool

Ramco Systems joins hand with NelsonHall to launch Digital Payroll Maturity Assessment Tool

Ramco Systems together with NelsonHall, a leading global research & analysis firm, ann...

GreyOrange announces Fulfillment Operating System driven by GreyMatter Software

GreyOrange announces Fulfillment Operating System driven by GreyMatter Software

GreyOrange releases its Fulfillment Operating System, which integrates GreyMatter software...

VARINDIA SIITF
SOUTHERN INDIA INFORMATION TECHNOLOGY FAIR (SIITF) -2018
BANGALURU
VARIndia - Star Nite Awards
STAR NITE AWARDS(SNA) - 2018
NEW DELHI
VARINDIA - OITF
ODISHA INFORMATION TECHNOLOGY FAIR(OITF)-2019
BHUBANESWAR
VARINDIA - WIITF
WESTERN INDIA INFORMATION TECHNOLOGY FAIR(WIITF) - 2019
MUMBAI
 INDUSTRY EVENTS Placeholder image
EverestIMS exhibits the Infraon Product Suite at DTA 2019 - Malaysia

EverestIMS exhibits the Infraon Product Suite at DTA 2019 - Malaysia

EverestIMS Technologies has participated at the TM Forum's Digital Transformation Asia...

ISPP organizes "Practitioner's approach to Public Policy" lecture

ISPP organizes "Practitioner's approach to Public Policy" lecture

The Indian School of Public Policy (ISPP) organized a first of its kind lecture series tit...


Copyright varindia.com @1999-2019 - All rights reserved.
Reproduction in whole or in part in any form or medium without express written permission of Kalinga Digital Media Pvt. Ltd. is prohibited.
Other Initiatives : www.mybrandbook.co.in | www.spoindia.org

advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription