Government Allocated Rs 6552.61 Crore in 2018-19 to MSME Ministry

In a written repy at Rajya Sabha, MSME Minister, Mr. NItin Gadkari informed the house that for Financial Year 2018-19, Government allocated Rs. 6552.61 Crore to the Ministry of MSME. The allocation for Prime Minister’s Employment Generation Programme (PMEGP), which is a credit-linked subsidy programme aimed at generating self-employment opportunities through establishment of micro-enterprises in the non-farm sector by helping traditional artisans and unemployed youth,  was increased from Rs. 1072.90 Crore (Actual Expenditure) in 2017-18 to Rs. 2118.80 Crore in 2018-19. 

Ministry of Micro, Small and Medium Enterprises (MSMEs) implements various schemes for benefit of MSMEs in all parts of India. These include Prime Minister’s Employment Generation Programme (PMEGP), Micro and Small Enterprises- Cluster Development Programme (MSE-CDP), Scheme for Promotion of MSMEs in North Eastern Region and Sikkim, Tool Rooms and Technology Centers, Mission Solar Charkha (MSC), Scheme of Fund for Regeneration of Traditional Industries (SFURTI), Procurement and Marketing Support Scheme, Entrepreneurship Skill Development Programme (ESDP), Credit Guarantee Scheme for Micro and Small Enterprises (MSEs) and Credit Linked Capital Subsidy and Technology Upgradation Scheme (CLCS-TUS).

This information was given by Mr. Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprises in written reply to a question in Rajya Sabha.

In his written letter, he further elaborated, that for Financial Year 2018-19, Government allocated Rs. 6552.61 Crore to the Ministry of MSME. The allocation for Prime Minister’s Employment Generation Programme (PMEGP), which is a credit-linked subsidy programme aimed at generating self-employment opportunities through establishment of micro-enterprises in the non-farm sector by helping traditional artisans and unemployed youth,  was increased from Rs. 1072.90 Crore (Actual Expenditure) in 2017-18 to Rs. 2118.80 Crore in 2018-19.   A new scheme, Interest Subvention for Incremental Credit to MSMEs, was also introduced in the Budget 2018-19 for which allocation of Rs. 275 Crore was made.

During the financial year 2018-19: (i) 73,427 projects  have been  supported under the PMEGP; (ii) 17 Common Facility Centres and 11 Infrastructure Development Projects have been completed under Cluster Development Programme; (iii) 14,155 units have been benefitted with a subsidy of Rs.980.44 Crore under the Credit Linked Capital Subsidy Scheme; (iv) 4,35,520  Credit Guarantee Proposals have been approved under the Credit Guarantee Scheme for Micro and Small Enterprises (MSEs) and (v) 1,26,902 MSEs have been  benefitted under Public Procurement Policy.

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