Increasing Employment Opportunities in MSMEs

As per the information received from Ministry of Statistics & Programme Implementation, share of MSME Gross Value Added (GVA) in All India GDP at current prices for the year 2019-20 was 30.0%.

State wise break up of persons employed in MSMEs which are registered on Udyam Portal of the Ministry and incorporated during last 5 years are attached as Annexure.COVID-19 epidemic has temporarily affected various sectors including Micro, Small and Medium Enterprises in the country including their employment. As MSMEs are present in both formal and informal sector, data regarding temporary or permanent loss of jobs in MSME sector are not maintained by the Government of India in Ministry of Micro, Small and Medium Enterprises (MSME).

For more information do watch- https://www.youtube.com/watch?v=Szq07c7gAWc

The Ministry of Micro, Small and Medium Enterprises (MSMEs) implements various schemes to increase employment opportunities of MSME sector in the country. These includes  Prime Minister Employment Generation Programme (PMEGP), Micro and Small Enterprises-Cluster Development Programme (MSE-CDP), Scheme of Fund for Regeneration of Traditional Industries (SFURTI), Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) and A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE).

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:

1. Rs 20,000 crore Subordinate Debt for MSMEs.
2. Rs 3 lakh crores Collateral free Automatic Loans for business, including MSMEs (existing overall guarantee limit under ECGLS has been enhanced from Rs. 4.5 lakh crore to Rs. 5 lakh crore).
3. Rs. 50,000 crore equity infusion through MSME Fund of Funds.
4. New revised criteria for 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, this will help MSME.

Also read – https://smeventure.com/aatma-nirbhar-bharat-package-progress-so-far-2/

Annexure

This information was given by the Minister of State for Micro Small and Medium Enterprises, Shri Bhanu Pratap Singh Verma in a written reply to the Rajya Sabha.