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Nitin Gadkari plans to boost number of MSMEs in India through existing schemes

As per reports, the ministry of Micro, Small and Medium Enterprises is striving to increase the number of micro and small industries in the country on a sustainable basis through the implementation of various schemes and programmes.

Union Minister, Nitin Gadkari has reportedly said that the Ministry provides better credit facility, technology upgradation and skilling to boost the entire MSME eco-system.

The minister also added that the major schemes being implemented by the Ministry of MSME include Prime Minister’s Employment Generation Programme and Micro and Small Enterprises - Cluster Development Programme.

Speaking about the Prime Minister’s Employment Generation Programme (PMEGP), Gadkari quoted, ‘A total of 5.45 lakh micro enterprises have been assisted with a margin money subsidy of Rs 12,074.04 crore, providing employment opportunities to an estimated 45.22 lakh persons since PMEGP’s inception and till March 31, 2019.’

The minister added, “An amount of Rs 2,247.10 crore has been allocated under PMEGP for financial year 2019-20, which is substantially higher with respect to allocation that the earlier financial year, which would further lead to increased number of units assisted and employment generation.”

Gadkari further said that the ‘Scheme of Fund for Regeneration of Traditional Industries’ scheme has been revamped in 2015. A total of 34,791 artisans have benefitted with an assistance of Rs 143.15 crore during 2018-19.

On the Scheme for Promotion of Innovation, Rural Industry and Entrepreneurship (ASPIRE), he said it was launched to set up a network of technology centres and incubation centres to accelerate entrepreneurship, and also to promote startups for innovation and entrepreneurship in the agro-industry. He added that, 74 Livelihood Business Incubation (LBI) centres and 11 Technology Business Incubators have been approved since the inception of the scheme.

Gadkari also spoke about the Coir Board, he said under Coir Vikas Yojana, over 36 lakh employment opportunities have been created since 2014-15 till 2018-19 in the Coir Sector.

While on the Credit Guarantee Scheme for Micro and Small Enterprises (CGTMSE), Gadkari quoted that the scheme has extended guarantee cover to over 35 lakh enterprises leading to around 1 crore employment generation. In fact, during FY 2018-19, a total of 4,35,520 proposals have been approved, providing guarantee to a tune of Rs 30,168 crore,” the minister added.

Gadkari then quoted the Credit linked Capital Subsidy Scheme (CLCSS) as a facilitator of technology upgradation of small-scale industries, including agro and rural industrial units, by providing 15 percent upfront capital subsidy. He said that, since inception of the scheme in 2000-01 till date, a total of 62,827 MSE units have been assisted, utilising subsidy of Rs 3888.13 crore.

Concluding with the Micro and Small Enterprises-Cluster Development Programme (MSE-CDP), the Union Minister said that, “During 2018-19, 17 Common Facility Centres and 11 Infrastructure Development projects have been established.”