Arun Jaitley to launch data bank to gather information about MSMEs

New Delhi: Union Finance Minister Arun Jaitley will on Thursday launch a data bank to gather information about micro, small and medium enterprises.

MSME Secretary K.K. Jalan has said that a census of MSMEs online will be for the first time carried out through the data bank, adding this will help save money as the previous census conducted in 2008 cost Rs. 50 crore, whereas this one is expected to be completed in just Rs. one crore.

"We will also be capturing data of MSME Associations," he said.The MSME Secretary further said the census process will start formally tomorrow with the launch of the data bank.

Six online finance facilitation centers will be opened tomorrow in Jalandhar, Ludhiana, Guwahati, Lucknow, Peenya and Delhi.