Govt Schemes

EMPLOYMENT OPPORTUNITIES INCREASES IN MSMEs » Bhajpa Ki Baat

EMPLOYMENT OPPORTUNITIES INCREASES IN MSMEs » Kamal Sandesh

As per the information received from Ministry of Statistics & Programme Implementation, share of MSME Gross Value Added (GVA) in All India GDP at current prices for the year 2019-20 was 30.0%. State wise break up of persons employed in MSMEs which are registered on Udyam Portal of the Ministry and incorporated during last 5 years.

COVID-19 epidemic has temporarily affected various sectors including Micro, Small and Medium Enterprises in the country including their employment. The Ministry of MSMEs implements various schemes to increase employment opportunities of MSME sector in the country. These includes Prime Minister Employment Generation Programme (PMEGP), Micro and Small Enterprises-Cluster Development Programme (MSE-CDP), Scheme of Fund for Regeneration of Traditional Industries (SFURTI), Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) and A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE).

Government has taken a number of initiatives under Aatmanirbhar Bharat Abhiyan to support the MSME Sector. Some of them are:

• Rs 20,000 crore Subordinate Debt for MSMEs.
• Rs 3 lakh crores Collateral free Automatic Loans for business, including MSMEs (existing overall guarantee limit under ECGLS has been enhanced from Rs. 4.5 lakh crore to Rs. 5 lakh crore).
• Rs. 50,000 crore equity infusion through MSME Fund of Funds.
• New revised criteria for classification of MSMEs.
• New Registration of MSMEs through ‘Udyam Registration’ for Ease of Doing Business.
• No global tenders for procurement up to Rs. 200 crores, this will help MSME.

(News Source -Except for the headline, this story has not been edited by Bhajpa Ki Baat staff and is published from a BJP KS feed.)

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