Verma lists schemes supporting MSMEs
The Government has taken a number of initiatives under Aatma Nirbhar Bharat Abhiyan to support the MSME Sector, including Rs.50,000 crore equity infusion through Self Reliant India Fund, Minister of State for Micro, Small and Medium Enterprises, Bhanu Pratap Singh Verma, said in a written reply in Rajya Sabha on 12 Dec 2022.
“This scheme has a provision for corpus of Rs.10,000 crore from Government of India,” he said.
Other initiatives include:
Rs.5 lakh crore collateral free automatic loans for business under Emergency Credit Line Guarantee Scheme (ECLGS), including MSMEs;
New revised criteria for classification of MSMEs;
New registration of MSMEs through ”Udyam Registration” for Ease of Doing Business;
No global tenders for procurement up to Rs.200 crore;
Inclusion of retail and whole sale trades as MSMEs w.e.f. 2 July 2021.
Non-tax benefits extended for 3 years in case of an upward change in status of MSMEs.
Integration of Udyam Portal and National Career Service (NCS) of Ministry of Labour & Employment, as an outcome registered MSMEs are able to search for jobseekers on NCS.
These initiatives are in addition to the schemes and programmes such as MSME Champions Scheme, Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), Prime Minister’s Employment Generation Programme (PMEGP), Micro and Small Enterprises – Cluster Development Programme (MSE-CDP).
The Ministry of Micro, Small and Medium Enterprises (MSME) implements various schemes and programmes aimed at promotion and development of MSME Sector in the country. fiinews.com
