MSMEs Under Key Focus in the Budget Session

SMEStreet Desk
New Update
Arvind Subramanian , CEA

The Ministry of Micro, Small and Medium Enterprises has taken several steps such as provision of collateral free credit through Credit Guarantee Scheme, provision of Subsidy for installation of modern machinery through Credit Linked Capital Subsidy Scheme (CLCSS), creating an ecosystem through Technology Centres (TCs) to support MSME Clusters for global competitive manufacturing through setting up of 15 new Technology Centres with World Bank assistance, augmenting the 18 existing TCs with new technologies and testing facilities, enhancing Competitiveness and Productivity through upscaling the various components of NMCP Scheme and also upscaling the cluster approach to improve development in the MSME sector following the announcement of the “Make in India Campaign”.

As MSMEs are important part of several values chains, it is expected that they will play an important role in the Government’s ‘Make in India’ drive. The Ministry will rise to the challenge through action plans directed at enhancement of the provision of collateral free credit through creation of state verticals for extending guarantees to the entrepreneurs of particular state with financial support from state governments, creation of similar verticals for women entrepreneurs and youth among SC/ ST and NE Regions. Augmentation of 18 existing TCs is to be supported by cluster network Mangers and a National Portal. Efforts are on to bridge the gap between Research Institutions and Industries through signing of MOUs with IISc and CSIR. Defence offset policy is being leveraged for creating ecosystem of defence manufacturing by MSMEs. A comprehensive skill mapping is also proposed as a first step towards alleviating the existing skill deficit. All these efforts are very much in synergy with Zero Effect Zero Defect manufacturing plan.

Development of MSMEs will be focused on both rural and urban areas depending upon the potentiality of the area. Efforts are being undertaken for the development of MSMEs in rural areas through implementation of Prime Minister’s Employment Generation Programme (PMEGP), Khadi Grant, Workshed Scheme for Khadi Artisans and Mahila Coir Yojana etc.

This information was given by the Minister of State, Micro, Small and Medium Enterprises, Shri Giriraj Singh in a written reply to a question in Rajya Sabha on Thursday.

Ministry of MSME Girraj Singh MSME Make In India