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PM Modi reveals ‘Raising & Accelerating MSME Performance scheme

By wasmulhaq 
Updated Date

New Delhi: The “Raising and Accelerating MSME Performance” programme was launched by Prime Minister Narendra Modi on Thursday at Vigyan Bhawan in the national capital.

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The Prime Minister’s Office (PMO) estimates that the scheme will cost about Rs 6,000 crore.

Through the effective enhancement of current MSME schemes, the programme seeks to increase the implementation ability and coverage of Medium Small and Micro Enterprises (MSME) in the states.

In order to make MSMEs competitive and self-sufficient, it will complement the Aatmanirbhar Bharat Abhiyan by fostering innovation, encouraging ideation, incubating new businesses, and promoting entrepreneurship. It will do this by creating quality standards, improving practises and processes, enhancing market access, and implementing technological tools and industry.

 Along with the RAMP scheme, PM Narendra Modi also inaugurated the Capacity Building of First-Time MSME Exporters scheme and new features of the Prime Minister’s Employment Generation Program (PMEG).

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Prime Minister’s Employment Generation Program includes an increase in the maximum project cost to Rs 50 lakh (from Rs 25 lakh) for the manufacturing sector and Rs 20 lakh (from Rs 10 lakh) for the service sector, and the inclusion of applicants from aspirational districts and transgenders in the Special Category applicants for availing higher subsidies. Also, hand-holding support is being provided to applicants/entrepreneurs through the engagement of banking, technical, and marketing experts.

The Prime Minister also digitally transferred assistance to beneficiaries of PMEGP for 2022–23.

Several programmes have been launched by the government at regular intervals, such as MUDRA Yojana, the Emergency Credit Line Guarantee Scheme, and the Scheme of Fund for Regeneration of Traditional Industries.

(SFURTI), to provide all kinds of essential help to the MSME sector, which has proved beneficial for a huge number of people all over the country.

During the event, PM Modi also announced the results of the MSME Idea Hackathon, 2022. The programme got underway on March 10 this year with the aim of promoting and supporting the unused creativity of individuals to encourage the adoption of the latest technologies and innovation among MSMEs.

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Prime Minister also distributed the National MSME Awards 2022.

The award is a recognition of the contributions of MSMEs, states/UTs, aspirational districts and banks for their outstanding performance in the growth and development of India’s dynamic MSME sector.


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