Ministry of MSME Highlights Significant Job Creation Across Industries
Udyam Registration Portal was launched by Government on 01.07.2020. As on 22.07.2024, the total employment reported by the MSMEs on Udyam Registration Portal and Udyam Assist Platform is 20.51crore. The year wise details are as follows:
| Period / FY | Udyam Registration Portal | Udyam Assist Platform | Total |
| 2020-21 (01/07/2020 – 31/03/2021) |
2,72,97,074 | – | 2,72,97,074 |
| 2021-22 | 3,49,53,245 | – | 3,49,53,245 |
| 2022-23 | 4,47,02,696 | 13,32,489 | 4,60,35,185 |
| 2023-24 | 5,59,09,619 | 1,85,46,114 | 7,44,55,733 |
| 2024-25 (till 22/07/2024) |
1,86,90,757 | 37,44,638 | 2,24,35,395 |
| Total | 18,15,53,391 | 2,36,23,241 | 20,51,76,632 |
Government is implementing different employment generation schemes and programmes like Mahatma Gandhi National Rural Employment Guarantee Scheme(MGNREGS), Pt. Deen Dayal Upadhayaya Grameen Kaushalya Yojana (DDU-GKY), Rural Self-Employment and Training Institute (RSETIs), Deen Dayal Antodaya Yojana-National Urban Livelihood Mission (DAY-NULM), Pradhan Mantri Mudra Yojana(PMMY), etc. to boost employment creation in the country including MSME sector.
Ministry of Micro, Small and Medium Enterprises (MSME) implements various schemes and programmes specifically aimed at promotion and development of MSME sector, thereby creating more jobs in the MSME sector. These schemes and programmes include Prime Minister’s Employment Generation Programme (PMEGP), MSME Champions Scheme, Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), Micro and Small Enterprises – Cluster Development Programme (MSE-CDP), Raising and Accelerating MSME Performance (RAMP).
Government has taken a number of initiatives to support MSME sector. Some of them are:
- Collateral free loan up to a limit of Rs. 500 lakh (w.e.f. 01.04.23) to MSEs with guarantee coverage up to 85 % for various categories of loan through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) under Credit Guarantee Scheme.
- Rs. 50,000 crore equity infusion through Self Reliant India Fund. This scheme has a provision for corpus of Rs.10,000 crore from Government of India.
- New revised criteria for classification of MSMEs with higher thresholds.
- Registration of MSMEs through ”Udyam Registration Portal” for Ease of Doing Business.
- Non-tax benefits extended for 3 years in case of an upward change in status of MSMEs.
- Roll out of Raising and Accelerating MSME Performance (RAMP) programme with an outlay of Rs. 6,000 crore over 5 years.
- Integration of Udyam Registration Portal with National Career Service (NCS) of Ministry of Labour & Employment and Skill India Digital of Ministry of Skill Development and Entrepreneurship. Registered MSMEs are enabled to reach out to trained manpower and capacity building.
- Under Vivad se Vishwas – I, relief by way of refund of 95% of the deducted performance security, bid security and liquidated damages was provided to MSMEs. Relief was also provided to MSMEs debarred for default in execution of contracts.
- Launch of Udyam Assist Platform (UAP) to bring the Informal Micro Enterprises (IMEs) under the formal ambit for availing the benefit under Priority Sector Lending (PSL).
- Launch of ‘PM Vishwakarma’ Scheme on 17.09.2023 to provide end to end holistic benefits to the artisans and craftspeople engaged in 18 traditional trades.
The Equal Remuneration Act, 1976, which provides for the payment of equal remuneration to men and women workers, applies to the MSME sector as well.