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Narendra Modi Announces Easier Access to Credit

Describing the decisions as a Diwali gift, Modi also announced a Rs 6,000 crore package for setting up MSME hubs

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Narendra-Modi
Narendra Modi.

In a major boost for micro, small and medium enterprises (MSME), Narendra Modi on Friday announced measures for easier access to credit and at cheaper rates for the sector.

Launching the MSME Support and Outreach Programme here, Prime Minister Narendra Modi said that working in a cohesive manner through various ministries, the government had taken 12 decisions to support the MSMEs, including women entrepreneurs.

“To ease access to credit for the MSME sector, it has been decided to launch a portal that will permit completing formalities for grant of loan of up to Rs 1 crore in 59 minutes,” Narendra Modi said.

The Prime Minister said that such a loan facility is also being launched for MSMEs registered under the Goods and Services Tax (GST).

Narendra Modi
Narendra Modi (Wikimedia Commons)

“A loan option has been launched for GST registered MSMEs through the GST portal, where MSMEs can apply for loan,” he said.

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For making available cheaper credit, Modi announced a 2 per cent cut in interest rates for loans of up to Rs 1 crore for GST-registered MSMEs. The reduction would also apply to “incremental loans” taken by such MSMEs.

Describing the decisions as a Diwali gift, Modi also announced a Rs 6,000 crore package for setting up MSME hubs. (IANS)

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PM Modi Advises Scientists To Use Science to Improve Lives

PM Narendra Modi tells Scientists to use science to improve the lives of citizens

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Modi advises Scientists
Prime Minister Modi tells scientists that science and technology should be used to bettering the lives of citizens. Wikimedia Commons

Prime Minister Narendra Modi on Tuesday called upon scientists to take up challenges in their research for bettering the daily lives of common citizens, especially farmers, help in reaching clean drinking water, solar power to the people, and solving problems such as pollution.

Highlighting the importance of ‘science for society’, Modi said when all “scientists, all citizens, will move forward with this understanding, both the country and mankind will be benefited”.

“To know the connection between science and society, we have to give answers to some questions. Everybody knows the pollution problem due to increased use of plastic. Can our scientists take up the challenge to come up with saleable and cost effective material which can take the place of plastic?” the Prime Minister asked while inaugurating the India International Science Festival through video conferencing from Delhi.

Indian PM Narendra Modi
PM Narendra Modi highlights the importance of ‘Science for Society’. Wikimedia Commons

Modi exhorted scientists assembled from India and abroad for the mega event whether they can take up the challenge to find a better way to store energy or electricity.

“Can we get a solution so that the use of solar power can go up, can we come up with an innovation related to battery and other infrastructure to reach electric mobility to the common man?

“Have we thought of doing something in our lab which can improve the lives of crores of people? Can we find a solution to local drinking water problems and reach clean drinking water to the people?” he asked.

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Modi also urged scientists to ponder over whether they can invent something which would cut down healthcare cost, and benefit peasants by increasing their income.

“We have to think how use of science can help in easing the lives of the people,” he said. (IANS)