Recent Government Initiatives in MSME sector
(MSME samadhaan, Atmanirbhar Bharat package, Make in India, Start-up India, Stand-up India, Zed certificate, Udyam Assist platform, RAMPS, Mudra Loan, PMEGP, TReDS, ECLGS, etc.) Micro, small, and medium enterprises (MSMEs) are often known as the backbone of the Indian economy which contributes 29% to the GDP of India. The sector is responsible for around 50%…
Read article
Aatma Nirbhar Bharat Package: Key Features
Aatma Nirbhar Bharat aims to make the country and its citizens independent and self-reliant in all senses. The Atmanirbhar Bharat Abhiyan was launched on May 12, 2020, by the Indian Prime Minister, Mr. Narendra Modi, to help the country recover from the economic impact of the Coronavirus pandemic by promoting self-reliance. The scheme’s goal is…
Read article
Explained: what is a RAMP scheme for MSME sector
The Raising & Accelerating MSME Performance (RAMP) scheme is a World Bank-assisted program that aims to improve the performance of micro, small, and medium enterprises (MSMEs) in India. The scheme was launched on 30 July 2022 by the Government of India. The total outlay for the scheme is Rs 6,062.45 crore, of which Rs 3,750…
Read article
Contribution of MSME in GDP
The micro, small and medium enterprises (MSMEs) are often known as the backbone of the Indian economy. This sector contributes more than 29% to the GDP and is responsible for around 50% country’s total exports. MSMEs also contribute one-third of India’s manufacturing output and employ people living in semi-urban and rural areas. The MSME sector…
Read article
Udyam Assist Platform: Helping formalisation of informal micro enterprises
Udyam registration is now mandatory for all MSMEs to avail of benefits under Priority sector lending and they can participate in Government tenders for manufactured goods and services. The registration provides multiple benefits to help MSMEs succeed, some of which are Collateral-free loans from banks and financial institutions and subsidised interest rates. It also simplifies…
MSME Samadhaan portal to address issue of delayed payments
The Ministry of MSME has taken the initiative to file an online application by the supplier MSE unit against the buyer of goods/services before the concerned MSEFC of his/her State/UT. The special portal launched on 30th Oct’2017 is known as “MSME SAMADHAAN”. This special portal to settle delayed payments by the buyers was launched by…
Read article