NEWS

Union Cabinet approved the “Raising and Accelerating MSME Performance” (RAMP) scheme

ABOUT THE SCHEME

• World Bank assisted Central Sector Scheme
• Aims to support Covid hit Ministry of Micro, Small and Medium Enterprises

HOW

• Improving access to market and credit
• Strengthening institutions and governance at the Centre and State
• Improving Centre-State linkages and partnerships
• Addressing issues of delayed payments and greening of MSMEs

COMPONENTS

• Preparation of Strategic Investment Plans (SIPs), in which all states/UTs will be invited.
• The SIPs would include an outreach plan for identification and mobilisation of MSMEs
• Identify key constraints and gaps, set milestones and project the required budgets for interventions in priority sectors including renewable energy, rural & non-farm business, wholesale and retail trade, village and cottage industries, women enterprises etc
• Monitoring would be done by an apex National MSME Council. The council will be headed by the Minister for MSME, including representation from various Ministries and supported by a secretariat.