Scheme Launched by Government for MSMEs

The government has launched a World Bank supported Central Sector Scheme called Raising and Accelerating MSME Performance (RAMP). The scheme aims at strengthening institutions and governance at the Centre and State, improving Centre-State linkages and partnerships and improving access of MSMEs to market and credit, technology upgradation and addressing issues of delayed payments and greening of MSMEs.

RAMP programme will be implemented over a period of five years. The total outlay for the scheme is INR 6,062.45 crore or USD 808 Million, out of which INR 3750 crore or USD 500 Million would be a loan from the World Bank, and the remaining INR 2312.45 crore or USD 308 Million would be funded by the Government of India (GoI).

Interventions under the RAMP programme, by way of increasing access of MSMEs to market, technology and credit, increasing outreach to more MSMEs, the inclusion of service sector, gender and greening initiatives etc., are aimed at increasing the performance of the MSME sector, thus resulting in more employment opportunities.

This information was given by the Minister of State for Micro Small and Medium Enterprises, Shri Bhanu Pratap Singh Verma in a written reply to the Rajya Sabha on July 25, 2022.

The Press Release can be accessed at - https://www.pib.gov.in/PressReleasePage.aspx?PRID=1844602