Ministry of MSME Introduces Initiatives to Enhance Competitiveness and Growth

Ministry of MSME implements various schemes and programmes for the promotion and development of MSME Sector in the country. Benefits under these schemes are available to all eligible MSMEs throughout the country.

The Government has taken a number of measures to boost the MSME sector in the country. Some of them are:

1. 1. Collateral free loan up to a limit of Rs. 500 lakh (w.e.f. 01.04.2023) 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.
   2. 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.
   3. New revised criteria for classification of MSMEs.
   4. Registration of MSMEs through ”Udyam Registration Portal” for Ease of Doing Business.
   5. No global tenders for procurement upto Rs.200 crore
   6. Inclusion of retail and wholesale trades as MSMEs w.e.f. 02.07.2021.
   7. Non-tax benefits extended for 3 years in case of an upward change in status of MSMEs.
   8. Rollout of Raising and Accelerating MSME Performance (RAMP) programme with an outlay of  Rs.6,000 crore over5years.
   9. Integration of Udyam Registration Portal with National Career Service (NCS) of Ministry ofLabour&EmploymentandSkillIndiaDigitalofMinistryofSkillDevelopmentandEntrepreneurship.RegisteredMSMEsareenabledtoreachouttotrainedmanpowerandcapacitybuilding.
   10. Under Vivad se Vishwas–I, relief, by way of refund of 95% of the deducted performancesecurity,bidsecurityandliquidateddamages,wasprovidedtoMSMEs.ReliefwasalsoprovidedtoMSMEs debarredfordefaultinexecutionofcontracts.
   11. 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).
   12. Launch of ‘PM Vishwakarma’ Scheme on 17.09.2023 to provide end to end holistic benefits to the traditional artisansand craftspeopleengagedin18 trades.

Awareness about various schemes of the Ministry of MSME is appropriately spread to MSME across the country through, inter alia, print and electronic media, radio, outdoor publicity, conclaves and campaigns conducted by the Ministry and its organisations. Recently, the Government has also launched “Yashasvini” Campaignas a series of mass campaigns in various parts of the country to create awareness for women entrepreneurs.