Nirmala Sitharaman launches Ubharte Sitaare Fund; says Modi govt has created supportive ecosystem for MSMEs

Uttar Pradesh has the highest number of MSMEs and has effectively implemented the One District One Product programme, which provides the ideal ecosystem for success of an initiative like the Ubharte Sitaare Fund.

Union Finance Minister Nirmala Sitharaman on Saturday said the micro, small and medium enterprises (MSMEs) are the backbone of the economy, and the Narendra Modi government has given the sector its rightful place. Addressing the launch of the 'Ubharte Sitaare Fund' here, Sitharaman said, "The government of Prime Minister Narendra Modi has given a proper identity to MSME. The place, which it had not got in decades, is being given to it, and it will be improved." "In the last two years, the Centre has done a number of different things. The government has changed the definition of MSME in a very flexible manner. Recently, a bill was tabled in the Parliament through which the MSME sector will directly benefit," she added.