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Udyami Bharat Programme: Furthering Indian MSME Sector
On 30th June 2022, Udyami Bharat Programme was organized in Delhi.
‘Udyami Bharat’ is reflective of the continuous commitment of the government to work towards the empowerment of MSMEs. The government has launched several initiatives from time to time like MUDRA Yojana, Emergency Credit Line Guarantee Scheme, Scheme of Fund for Regeneration of Traditional Industries (SFURTI) etc. to provide necessary and timely support to the MSME sector, which has helped benefit crores of people across the country.
At the event, Prime Minister Narendra Modi launched key initiatives to ramp up the MSME sector.
- ‘Raising and Accelerating MSME Performance’ (RAMP) scheme
- ‘Capacity Building of First-Time MSME Exporters’ (CBFTE) scheme
- New features of the ‘Prime Minister’s Employment Generation Programme’ (PMEGP)
Raising and Accelerating MSME Performance’ (RAMP) Scheme
- The scheme was announced in 2020 and got cabinet approval in March 2022.
- ‘Raising and Accelerating MSME Performance’ (RAMP) scheme with an outlay of around Rs 6000 crore, aims to scale up the implementation capacity and coverage of MSMEs in the States, with impact enhancement of existing MSME schemes.
- It will complement the Aatmanirbhar Bharat Abhiyan by fostering innovation, encouraging ideation, incubating new business and entrepreneurship by developing quality standards, improving practices and processes, enhancing market access, deploying technological tools and Industry 4.0 to make MSMEs competitive and self-reliant.
‘Capacity Building of First-Time MSME Exporters’ (CBFTE)
- ‘Capacity Building of First-Time MSME Exporters’ (CBFTE) scheme aims to encourage MSMEs to offer products and services of international standards for the global market.
- This will enhance the participation of Indian MSMEs in the global value chain and help them realise their export potential.
New features of ‘Prime Minister’s Employment Generation Programme’ (PMEGP)
New features of the ‘Prime Minister’s Employment Generation Programme’ (PMEGP) include:
- Manufacturing Sector: An increase in the maximum project cost to Rs 50 lakhs (from Rs 25 lakhs) for the manufacturing sector
- Service Sector: An increase in the maximum project cost to Rs 20 lakhs (from Rs 10 lakhs) in the service sector
- Special Category Applicants: The Govt. has allowed inclusion of applicants from Aspirational districts & Transgenders in the Special Category applicants for availing higher subsidies.
- Support: Handholding support is being provided to applicants/entrepreneurs through the engagement of banking, technical & marketing experts.
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