SME Times is powered by   
Search News
Just in:   • Equity indices break two-day losing streak on value buying  • IMF urges Sri Lanka to tighten monetary policy  • Global semiconductor sales to reach $676 bn this year: Gartner  • Tinna Rubber hits upper circuit, investors accumulate 900% returns in year  • Availability of jobs in Japan improves for 1st time in 3 yrs 
Last updated: 03 May, 2022  

Zed.9.Thmb.jpg Revamped ZED scheme for MSMEs

   Top Stories
» Net direct tax collection reaches highest-ever figure in FY 22
» Musk has to manufacture here to sell Tesla cars in India: Gadkari
» Round tripping of industrial inputs by large players unfavourable to local value chains
» Sitharaman engages investors in Silicon Valley
» Modi hails India's success in achieving target of $400 billion of exports
Bikky Khosla | 03 May, 2022

The MSME ministry last week launched a revamped Zero Defect, Zero Effect (ZED) scheme. The erstwhile ZED scheme was launched in October 2016, with an objective to boost MSMEs' competitiveness, by reducing wastage in their manufacturing process, increasing their productivity while enhancing the environmental consciousness. Under the new scheme, a number of changes have been introduced for further benefit of the sector.

Under the new scheme, the parameters that must be met for certification have been reduced from 50 in the previous scheme to 20. According to a top official, this decision has been taken after considering feedback received from MSMEs and industry associations which pointed out difficulties in complying with all 50 parameters. The official, however, added that there will be no compromise on the quality and safety of products despite the changes.

It is proposed to provide an 80% subsidy on the certification cost for micro enterprises, 60% for small enterprises, and 50% for medium enterprises. Also, there will be an additional subsidy of 10% for the MSMEs owned by women/SC/ST entrepreneurs or MSMEs in NER/Himalayan/LWE/Island territories/aspirational districts. There will be an additional subsidy of 5% for MSMEs which are also a part of the SFURTI or MSE - Cluster Development Programme.

The changes are welcome. According to a recent report, the Centre's expenditure on ZED scheme was not encouraging in FY22, with nothing spent as of December-end out of the total allocated fund of Rs 16 crore for the financial year, due to redesigning of the scheme. Now with the changes finally introduced, we expect that the situation will improve, with MSMEs benefitting further from it. The scheme will succeed only if its implementation succeeds.

I invite your opinions.

Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 27 Apr, 2022
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter