Mortgage Property To Be Released Immediately With Loan Repayment: CM Mohan Yadav

Bhopal (Madhya Pradesh): Chief Minister Mohan Yadav on Sunday announced that once any institutional or bank loan is repaid, the related mortgaged property will be immediately freed from mortgage or double mortgage conditions. The benefit of this provision will also extend to MSME industries.

He made the announcement while inaugurating the state-level office of Laghu Udyog Bharti at Govindpura Industrial Area. The office has been built at a cost of Rs 4 crore.

Yadav emphasised the need for balanced industrial development across all regions. “Industries must be set up uniformly across the state to ensure balanced development,” he said.

The CM assured that the state government is actively working to resolve issues faced by Laghu Udyog Bharti and is framing policies to support MSMEs. He said a time-bound mechanism is being created to grant all necessary permissions related to MSMEs.

Incentives were also announced for those establishing educational institutions. Policy-based subsidies will be offered for setting up ITIs, polytechnic colleges and engineering colleges. Yadav said that the state is encouraging research, with discussions underway to establish national and international study centres at IIT Indore.

India has over 6 crore MSMEs, contributing nearly 30% to the country’s GDP and holding a 45% share in exports.

Underlining the significance of small-scale industries, Yadav said, “The path to a self-reliant India does not begin with big industries, but with small businesses running out of homes.”