Achievements of the Ministry of Micro, Small & Medium Enterprises

Achievements of the Ministry of MSME:

• Udyami Bharat: The Prime Minister of India launched 3 key initiatives for the MSME sector in the ‘Udyami Bharat’ programme.
  • Raising and Accelerating MSME Performance (RAMP) scheme: The programme will focus on two result areas: 1) Strengthening Institutions and Governance of the MSME Program and 2) Supporting Market Access, Firm Capabilities and Access to Finance.
  • Capacity Building of First-Time MSME Exporters’ (CBFTE) scheme: To encourage MSMEs to offer products and services of international standards for the global market. 
  • New features of the ‘Prime Minister’s Employment Generation Programme’ (PMEGP).
    • Firstly, increase the maximum project cost to Rs 50 lakhs (from Rs 25 lakhs) for the manufacturing sector and Rs 20 lakhs (from Rs 10 lakhs) for the service sector.
    • Secondly, the inclusion of applicants from Aspirational districts & Transgenders in the Special Category applicants for availing higher subsidies. 
    • Thirdly, handholding support is being provided to applicants/entrepreneurs through the engagement of banking, technical & marketing experts.

Policy Initiatives:

• The Udyam Registration Portal was launched It is fully online, free of cost, hassle-free, does not require any documentation, and is a step towards Ease of Doing Business for MSMEs.
• Scheme of Fund for Regeneration of Traditional Industries (SFURTI): The scheme supports the establishment of collective manufacturing enterprises of artisans, to increase their production, making them produce value-added products, and enhancing the marketability of products.
• Public Procurement Policy for Micro and Small Enterprises: Ministry of MSME mandates 25% annual procurement from MSEs by Central Ministries/ Departments/ Central Public Sector Enterprises (CPSEs) including 4% from MSEs owned by SC/ST and 3% from MSEs owned by Women entrepreneurs.
• Procurement and Marketing Support (PMS) Scheme: The scheme promotes new marketaccess initiatives and enhances the marketability of products and services in the MSME sector.
• International Cooperation Scheme: The Scheme provides financial assistance to Industry Associations to participate in International exhibitions abroad, to organize International conferences in India and to capacity build ‘First Time MSE Exporters’ on a reimbursement basis.
• Promotion of MSMEs among SC/STs & in NER
• National SC-ST Hub (NSSH): The scheme is aimed at promoting entrepreneurship among the SC/ST and fulfilling the 4% procurement mandate by the CPSEs as laid down in the Central Government Public Procurement Policy and boosting entrepreneurship among SC/STs.
• Promotion of MSMEs in NER and Sikkim Scheme: The scheme includes components viz., Setting up of new and modernization of existing Mini Technology Centre, Development of new & existing Industrial Estates and Development of Tourism Sector.

 

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Q1) Who qualifies as MSME in India?

A proprietorship, partnership firm, company, trust or society with an investment below Rs. 50 crore and annual turnover below Rs. 250 crores are eligible for MSME registration

Source: Year End Review- 2022 Ministry of Micro, Small & Medium Enterprises