SME Times News Bureau | 24 Dec, 2019
The Ministry
of Micro, Small & Medium Enterprises on Tuesday said that the sector's
contribution is envisaged at $2 trillion in India’s five trillion
economy by 2024.
The Indian economy
is likely to emerge as one of the leading economies in the world, with an
envisioned GDP of USD five trillion economy by 2024. Our vision is to ensure
that at least a contribution worth USD two trillion come from MSME sector, said
an official Year End Review of the ministry.
To accomplish
this, M/o MSME has taken many steps during the year for technology advancement,
skill development and job creation for empowerment of MSMEs, it added.
Under Prime Minister's Employment Generation Programme (PMEGP) 65,312 new micro enterprises have
been set up and 5,22,496 Employment opportunities generated and a Margin money
subsidy worth Rs. 1929.83 crore have been utilized, said the release.
The Government approved for
continuation of Credit Linked Capital Subsidy component under Credit Linked
Capital Subsidy-Technology Upgradation Scheme (CLCS-TUS) in February 2019, it
added.
Under the CGTMSE, 5,46,127
credit facilities have been approved amounting to a guarantee of Rs. 33,381
crore, it added.
Ministry of MSME is
implementing Technology Centre Systems Programme (TCSP) at an estimated cost of
Rs. 2200 crore, it said
Organizations like Common
Service Centres (CSC), Entrepreneurship Development Institute of India (EDII)
on boarded for bringing MSMEs on digital platform and for providing them
digital identity, it added.