SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 27 Sep, 2014  

k-h-muniyappaTHMB.jpg 'Committee constituted by RBI to discuss issues of MSMEs'

k-h-muniyappa02042013.jpg
   Top Stories
» 28 Indian startups raised over $800 mn in funding this week
» GST Council waives interest, penalty on notices to taxpayers under Section 73
» India's innovation ecosystem poised for exponential growth: Industry
» India's innovation ecosystem poised for exponential growth: Industry
» Overseas Indians faith grows in Indian economy with $1 billion deposits in April
SME Times News Bureau | 14 Aug, 2013
Expressing the government's concerns about the growth of the Micro, Small and Medium Enterprise (MSME) sector, the Minister of State (Independent Charge) for MSME, K. H. Muniyappa Tuesday informed that RBI has constituted a standing committee for welfare of the sector and to discuss issues concerning MSMEs.

"A Standing Advisory Committee has been constituted by the Reserve Bank of India (RBI), with Deputy Governor as Chairman, officials of Ministry of MSME, Banks and Associations as members, to discuss issues concerning MSMEs," informed Muniyappa in a written reply to a question in the Rajya Sabha on Tuesday.

"The Committee examines issues relating to improving of credit to the MSME sector, difficulties/ constraints experienced and steps taken to overcome them," he added.

Further, Empowered Committee (EC) on MSMEs have been constituted at the Regional offices of RBI, under the Chairmanship of the Regional Directors with the representations of SLBC Convener banks, senior level officers from two banks having predominant share in MSME financing in the state, representative of SIDBI Regional Office, the Directorate of Industries of the State Government, one or two senior level representatives from the MSME/SSI Associations in the state and a senior level officer from SFC/ SIDC as members.

EC meets at least once in a quarter to review, inter-alia, the credit flow to MSE sector and coordinates with banks/ financial institutions and State Governments to ensure smooth flow of credit to the sector, the minister said in his reply.

As per data maintained by Directorate General of Commercial Intelligence and Statistics (DGCI&S), MSME sector's contribution to India's total exports during 2012-13 was 43 percent.

The Government has been implementing various schemes/programmes to increase MSME sector's contribution to exports.

Replying to another query, Muniyappa said that the government has approved an outlay of Rs 8,060 crore, under Prime Minister's Employment Generation Programme (PMEGP), to set up 3.39 lakh projects which would create about 27.12 lakh jobs.

"An outlay of Rs 8,060 crore has been approved for PMEGP in the 12th Plan to set up 3.39 lakh projects which would create around 27.12 lakh employment," said Minister.

Under the PMEGP, urban and rural entrepreneurs in the general category can avail a subsidy of 15 per cent and 25 per cent on the project cost. In the case of weaker sections of society, a 25 per cent and 35 per cent subsidy is provided to urban and rural businessmen.

During the 11th Plan, margin subsidy of Rs 3,131 crore was released under PMEGP, against which a utilisation of Rs 3,067 crore has been achieved, providing employment to an estimated 16.07 lakh persons through setting up of 1.64 lakh projects, Muniyappa said.

The scheme aims at generating employment through setting up of micro enterprises, including rural industrial units.
 
Print the Page Add to Favorite
 
Share this on :
 

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

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter