SME Times is powered by   
Search News
Just in:   • CM woos global investors, aims to help Karnataka rural economy  • Adani Capital acquires Essel Finance's MSME loan business  • SMEs get relief as cut-off date for monthly GST returns extended  • FIEO calls for more benefits for MSME exporters  • L&T's Q3 consolidated net profit up 16.5% 
Last updated: 22 Jul, 2019  

msme-THMB-2010.jpg Several schemes to push MSME sector: Minister

   Top Stories
» SMEs get relief as cut-off date for monthly GST returns extended
» FIEO calls for more benefits for MSME exporters
» Slowdown to affect insurance sector: Report
» Budget may offer production incentives for fabless chip cos
» 45% SMEs against Centre's right to seek customer, supplier data
SME Times News Bureau | 22 Jul, 2019

MSME Minister Nitin Gadkari said on Monday that several schemes are being implemented by the government for promotion of micro, small and medium enterprises of the country.

In written reply to a question in Rajya Sabha, Gadkari said his ministry implements various schemes for benefit of MSMEs in all parts of India. These include Prime Minister’s Employment Generation Programme (PMEGP), Micro and Small Enterprises- Cluster Development Programme (MSE-CDP), Scheme for Promotion of MSMEs in North Eastern Region and Sikkim, etc.

He also mentioned about schemes such as Tool Rooms and Technology Centers, Mission Solar Charkha (MSC), Scheme of Fund for Regeneration of Traditional Industries (SFURTI), Procurement and Marketing Support Scheme, Entrepreneurship Skill Development Programme (ESDP), Credit Guarantee Scheme for Micro and Small Enterprises (MSEs) and Credit Linked Capital Subsidy and Technology Upgradation Scheme (CLCS-TUS).

For Financial Year 2018-19, Government allocated Rs. 6552.61 Crore to the Ministry of MSME, he said.

The allocation  for Prime Minister’s Employment Generation Programme (PMEGP), which is a credit linked subsidy programme aimed at generating self-employment opportunities through establishment of micro-enterprises in the non-farm sector by helping traditional artisans and unemployed youth,  was increased from Rs. 1072.90 Crore (Actual Expenditure) in 2017-18 to Rs. 2118.80 Crore in 2018-19, he added.  

A new scheme, Interest Subvention for Incremental Credit to MSMEs, was also introduced in the Budget 2018-19 for which allocation of Rs. 275 Crore was made, the minister said.

During the financial year 2018-19: 73,427 projects  have been  supported under the PMEGP; 17 Common Facility Centres and 11 Infrastructure Development Projects have been completed under Cluster Development Programme; 14,155 units have been benefitted with a subsidy of Rs.980.44 Crore under the Credit Linked Capital Subsidy Scheme, he said.

In addition, 4,35,520  Credit Guarantee Proposals have been approved under the Credit Guarantee Scheme for Micro and Small Enterprises (MSEs) and 1,26,902 MSEs have been  benefitted under Public Procurement Policy, the minister said.

Print the Page
Add to Favorite
Share this on :

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

Credit guarantee Scheme or Export credit Scheme
Prashant | Tue Jul 23 13:43:05 2019
Dear Sir. We are small scale industry established in 2017. We started doing export at the end of 2018. But the export orders are big and need more working capital. We read on internet that government provides export credit to SME for buying raw material on credit. But to avail these schemes whom do we approach? Nationalized banks straight away refuses any kind of support. There are no loans or schemes available from nationalized for New business. Kindly guide us in this regard. Thanks

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 23 Jan, 2020
  Daily Poll
Ease of doing business improved in last one year
 Can't say
  Commented Stories
» MRF to set up a new plant in Gujarat(3)
» MSME: Budget expectations(1)
» China's forex reserves reach USD 2.85 trillion(1)
» 'Capital Adequacy Ratio' above regulatory norms: Yes Bank(1)
» KVIC opens first silk processing plant in Gujarat(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter