Recently, the union Minister for Micro, Small & Medium Enterprises (MSME) launched three sub-schemes under the aegis of the RAMP programme.
About RAMP Programme
- The Raising & Accelerating MSME Performance (RAMP) programme is assisted by the World Bank.
- It aims to improve the performance of micro, small, and medium enterprises (MSMEs) in India.
- It was launched in 2022.
- Improving access to market and credit for MSMEs
- Strengthening institutions and governance at the central and state levels
- Improving center-state linkages and partnerships
- Addressing issues of delayed payments
- Greening of MSMEs
- The National MSME Council has been set up by the Ministry to work as an administrative and functional body of the RAMP Programme.
- Sub schemes under RAMP
- MSME GIFT Scheme: MSME Green Investment and Financing for Transformation Scheme intends to help MSMEs adopt green technology with interest subvention and credit guarantee support.
- MSE SPICE Scheme: The MSE Scheme for Promotion and Investment in Circular Economy aims to support circular economy projects which will be done through credit subsidy and will lead to realising the dream of MSME sector towards zero emissions by 2070.
- MSE ODR Scheme: The MSE Scheme on Online Dispute Resolution for Delayed Payments is a first of its kind scheme to synergise legal support with modern IT tools and Artificial Intelligence to address the incidences of delayed payments for Micro and Small Enterprises.
- Implementing agencies of the sub schemes: Small Industries Development Bank of India (SIDBI) for MSME GIFT and MSME SPICE schemes and National Informatics Centre Services Inc. (for NICSI) for the MSE ODR scheme.
Q1) What is Green technology?
It refers to a type of technology that is considered environmentally friendly based on its production process or its supply chain. It encompasses a wide area of scientific research, including energy, atmospheric science, agriculture, material science, and hydrology.
Source: Shri Narayan Rane launches three sub-schemes under the RAMP programme- MSME Green Investment and Financing for Transformation Scheme (MSE GIFT Scheme), MSE Scheme for Promotion and Investment in Circular Economy (MSE SPICE Scheme) MSE Scheme on Online Dispute Resolution for Delayed Payments