Aatmanirbhar in MSME Sector gets a boost

The Government has taken several initiatives under the Aatmanirbhar in MSME sector to mitigate the negative impact of Covid-19 on small businesses, including MSMEs, in the country. Some of them are:

1.   Rs. 20,000 crore Subordinate Debt for stressed MSMEs.
2.   Rs.3 lakh crores Emergency Credit Line Guarantee Scheme (ECLGS) for Businesses, including MSMEs (which has subsequently been increased to Rs. 5 lakh crore, as announced in Budget 2022-23).
3.   Rs. 50,000 crore equity infusion through Self Reliant India Fund.
4.   New revised criteria of classification of MSMEs.
5.   New registration of MSMEs through ‘Udyam Registration’ for Ease of Doing Business.
6.   No global tenders for procurement up to Rs. 200 crores.

For more information, also read – https://smeventure.com/employment-generated-under-pmegp/

Promotion and development of MSMEs is a continuous process. The Government of India, interacts regularly with Stakeholders, Industry Associations, Individual Enterprises, State Government through Seminars, Video Conferencing, Meeting etc., to assess the problems and challenges faced by the MSMEs. The Ministry of MSME implements various schemes and programmes for the promotion and development of MSMEs. These schemes and programmes inter alia 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), Credit Guarantee Scheme for Micro and Small Enterprises, Micro and Small Enterprises Cluster Development Programme (MSE-CDP), etc.

Do watch – https://www.youtube.com/watch?v=0WgYxfrxJCs

Under the Aatmanirbhar in MSME Sector, the Ministry of MSME, in order to help the MSMEs to grow technologically and to enhance their competitiveness, has established new Technology Centres (TCs) and Extension Centres (ECs) across the Country. These TCs/ECs provide various services like technology support, skilling, incubation and consultancy to MSMEs and skill seekers, leading to enhancement in employability of the skill seekers, competitiveness of MSMEs and creation of new MSMEs in the country. In addition to it, the Government of India, through its 18 technology centres, conducts various skill development training programmes based on the provision of well structured modular, hands on, practically oriented, training for the educated youth and technicians of industries. All courses are regularly updated to keep abreast with global technological advancements. Accordingly, 76 courses are compliant with National Skill Qualification Frame work (NSQF), Ministry of Skill Development & Entrepreneurship.