He was speaking at the ‘National SC-ST Hub State‘ conclave organised here by his ministry.
Stressing that jobs just did not mean government ones, Singh said that employment opportunities were also being created because of the Mudra (Micro Units Development and Refinance Agency) loan scheme that had made people self-employed.
He said that some sections were mocking these initiatives, alluding to the furore over Prime Minister Narendra Modi‘s comment that even those selling “pakodas” were part of the cycle of employement generation.
“It is PM Modi’s dream to create jobs through self employment,” Singh said.
Singh, while speaking about the recent scam that has hit a nationalised bank, said that Non-Performing Assets (NPAs) of the banking sector was in the region of Rs 52,000 crore but went on to add that the portion of NPAs pertaining to the MSME sector was about 1.5 per cent of the Rs 70,000 crore lent to the latter.
“Bankers should think about why the level of NPAs is so less in the MSME sector. They should provide need-based finance to MSMEs where even after a high rate of interest, the recovery is very good,” Singh said.
Latest posts by Mozaffar EtezadiFar (see all)
- China lifts renewable power subsidy for 2021 by nearly 5% y/y - 20th November 2020
- World's top miner plans to hire 21,000 women, rectify imbalance - 16th November 2020
- India's fuel demand rose 2.1 percent in October - 12th November 2020