Raising & Accelerating MSME Performance: Prime Minister Narendra Modi on June 30, 2022, inaugurated the ‘Raising & Accelerating MSME Performance’ scheme at Vigyan Bhawan in New Delhi. As per the Prime Minister’s Office, RAMP scheme has an outlay of around Rs. 6,000 crores.
Along with the Raising & Accelerating MSME Performance Scheme, Prime Minister Narendra Modi also inaugurated the ‘Capacity Building of First-Time MSME Exporters’ scheme and the new features of ‘Prime Minister’s Employment Generation Programme’. On the occasion, Prime Minister digitally transferred the assistance to the beneficiaries of PMEGP for 2022-23.
Prime Minister Narendra Modi inaugurates the ‘Raising & Accelerating MSME Performance’ scheme, at Vigyan Bhawan in Delhi pic.twitter.com/TVpBO9EF7K
— ANI (@ANI) June 30, 2022
What is Raising & Accelerating MSME Performance Scheme?
Objective
The Raising & Accelerating MSME Performance Scheme (RAMP) aims to scale up the capacity and the coverage of the Medium, Small and Micro Enterprises (MSME) in the states, with an impact on the enhancement of exiting MSME schemes.
Significance
RAMP Scheme will complement the Aatmanirbhar Bharat Abhiyan by fostering innovation, incubating new business and entrepreneurship by developing quality standards, improving practices and processes, deploying technological tools, enhancing market access, and industry 4.0 to MSMEs competitive and self-reliant.
Prime Minister’s Employment Generation Programme: New Features
Prime Minister’s Employment Generation Programme includes an increase in the maximum project cost of Rs. 50 lakh (from Rs. 25 lakh) for the manufacturing sector and Rs. 30 lakh (from Rs. 10 lakh) in the service sector and the inclusion of applicants from the aspirational districts and the transgenders in the Special Category applicants for availing higher subsidies.
Also, the handholding support is being provided to applicants/entrepreneurs through the engagement of banking, technical and banking experts.
MSMEs in India: Government’s efforts to support MSME Sector
The Central Government has launched several initiatives from time to time to provide necessary and timely support to the MSME sector in India, which has helped benefit crores of people across the country. Some of the plans are- MUDRA Yojana, Emergency Credit Line Guarantee Scheme, and Scheme of Fund for Regeneration of Traditional Industries.
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