PIB News Update: Shri Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprises has informed that The Ministry of MSME implements various schemes and programmes for growth and development of MSME Sector in the country. These schemes and programmes include Prime
Minister’s Employment Generation programme (PMEGP), Scheme of Fund for Regeneration of Traditional Industries (SFURTI), A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE), Interest Subvention Scheme for Incremental Credit to MSMEs, Credit Guarantee Scheme for Micro and Small Enterprises, Micro and Small Enterprises Cluster Development Programme (MSE-CDP), Credit Linked Capital Subsidy and Technology Upgradation Scheme (CLCS-TUS).
Recently, Post Covid-19, Government has taken a number of initiatives under Aatma Nirbhar
Bharat Abhiyan to support the MSME Sector in the country especially in Covid-19 pandemic. Some of them are:
i) Rs 20,000 crore Subordinate Debt for MSMEs.
ii) Rs. 3 lakh crores Collateral free Automatic Loans for business, including MSMEs.
iii) Rs. 50,000 crore equity infusion through MSME Fund of Funds.
iv) New revised criteria for classification of MSMEs.
v) New Registration of MSMEs through ' Udyam Registration' for Ease of Doing Business.
vi) No global tenders for procurement up to Rs. 200 crores, this will help MSME.
An online Portal “Champions” has been launched on 01.06.2020 by the Prime Minister. This covers many aspects of e-governance including grievance redressal and handholding of MSMEs. Through the portal, total 18,723 grievances have been redressed upto 09.09.2020. RBI has also announced several measures to Reduce Financial Stress of MSMEs.