PM Modi inaugurates 'Raising & Accelerating MSME Performance' scheme

The scheme aims to scale up the implementation capacity and coverage of Medium Small and Micro Enterprises in the states, with impact enhancement of existing MSME schemes.

Published: 30th June 2022 02:32 PM  |   Last Updated: 30th June 2022 03:45 PM   |  A+A-

Prime Minister Narendra Modi (Photo | PTI)

Prime Minister Narendra Modi (Photo | PTI)

By ANI

NEW DELHI: Prime Minister Narendra Modi on Thursday inaugurated the 'Raising and Accelerating MSME Performance' scheme at Vigyan Bhawan in the national capital.

According to Prime Minister's Office (PMO), the scheme has outlay of around Rs 6,000 crore.

The scheme aims to scale up the implementation capacity and coverage of Medium Small and Micro Enterprises (MSME)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.

Along with the RAMP scheme, PM Narendra Modi also inaugurated the 'Capacity Building of First-Time MSME Exporters' scheme and new features of the 'Prime Minister's Employment Generation Program' (PMEG).

'Prime Minister's Employment Generation Program 'include an increase in the maximum project cost to Rs 50 lakh (from Rs 25 lakh) for the manufacturing sector and Rs 20 lakh (from Rs 10 lakh) in the service sector and the inclusion of applicants from aspirational districts and transgenders in the Special Category applicants for availing higher subsidies. Also, handholding support is being provided to applicants/entrepreneurs through the engagement of banking, technical and marketing experts.

The Prime Minister also digitally transferred assistance to beneficiaries of PMEGP for 2022-23.

'Udyami Bharat' is reflective of the continuous commitment of the government, right from day one, 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, and Scheme of Fund for Regeneration of Traditional Industries (SFURTI) to provide necessary and timely support to the MSME sector, which has helped benefit crores of people across the country.

During the event, PM Modi also announced the results of the MSME Idea Hackathon, 2022.

Launched on March 10 this year, this Hackathon is aimed at promoting and supporting the untapped creativity of individuals, promoting the adoption of the latest technologies and innovation among MSMEs. The selected incubatee ideas will be provided funding support of up to Rs 15 lakhs per approved idea.

Prime Minister also distributed the National MSME Awards 2022.

The award is a recognition of the contributions of MSMEs, States/UTs, aspirational districts and banks for their outstanding performance in the growth and development of India's dynamic MSME sector.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp