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PM Modi’s New Portal For 1 Crore Loan In 59 Minutes Wins Hearts All Over Twitter

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PM Modi’s New Portal For 1 Crore Loan In 59 Minutes Wins Hearts All Over Twitter

There is no denying that India has made a big leap in terms of business reforms by moving up to the 77th rank in the 2018 global ease of doing business rankings. The rise is hailed as an historic move by the president of world bank, and he believes it to be an remarkable achievement for such a large population.

In another attempt to reform the MSME sector, PM Modi launched a new portal as a Diwali gift to the residents of the country.

This portal allows you to submit your application for a loan within just 59 minutes, making the process much easier than before. The portal will be able to receive applications for loans upto 1 crore rupees and is an attempt to support the MSME sector of the industry which is the largest employment generator in the country, after agriculture.

The prime minister has also relaxed labour laws and increased easier compliance with the environmental laws of the nation. The Modi government also plans on spending ₹6000 crores in order to setup 20 hubs with around 100 tool rooms which will aid in upgrading the existing technologies of the MSME sector.

India is the only South Asian Country that has experienced such a huge rise in ranks consecutively over the past two years. With the same growth in mind, the country is projected to be among the top 5 economies of the world by 2019 and among the top 3 in the coming few years of the nation.

People on twitter were rather surprised by this pleasant announcement and the reactions were positive to say the least.

Here are the top 8 reactions we could find on twitter for you.

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What did you think about this latest launch by the prime minister? Feel free to share your thoughts with us in the comments below.


 

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