Government has launched a World Bank supported Central Sector scheme called Raising and Accelerating MSME Performance (RAMP).
This scheme was put forth by the Government of India to support MSMEs in accordance with the recommendation of the U.K. Sinha Committee, the KV Kamath Committee and the Economy Advisory Council to the Prime Minister (PMEAC).
This programme aims to improve access to market and credit, strengthening institutions, enhanced Centre-state partnerships, address issues of delayed payments and greening of MSMEs, and ramp up implementation capacity and MSME coverage in states.
The scheme includes the preparation of Strategic Investment Plans (SIPs) in which all States and Union territories will be invited.
An apex National MSME Council would conduct all overall monitoring and policy review of RAMP scheme. It would be headed by the Minister of MSME, include representation from various ministries and supported by a secretariat.
Benefits: RAMP will address the generic and COVID-related problems in the MSME sector.
It will improve capacity building, hand holding, skill development, quality enrichment, technological upgradation, digitization, outreach and marketing promotion. It will help in the generation of employment.
It will promote a larger formalization in the MSME sector. It will complement the Aatmanirbhar Bharat Mission to encourage innovation and enhancement in industry standards, practices and providing necessary technological inputs to the MSMEs.
The program would have a total cost of ₹6,062.45 crores, of which ₹3750 crores will come from a World Bank loan, and the remaining ₹2312.45 crore will be provided by the Government of India.
As exclaimed by the Finance ministry this year, 6.35 lakh MSMEs are likely to benefit from better access to market, finance and credit under ₹6000 crore RAMP scheme for MSME.
Comments
Write Comment