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What is the News?
The Prime Minister has participated in the ‘Udyami Bharat’ programme.
During this, he launched several initiatives like 1) Raising and Accelerating MSME Performance (RAMP) scheme, 2) Capacity Building of First-Time MSME Exporters(CBFTE) scheme, and 3) new features of the Prime Minister’s Employment Generation Programme (PMEGP) to ramp up the MSME sector.
What is the Raising and Accelerating MSME Performance(RAMP) scheme?
What is Capacity Building of First-Time MSME Exporters(CBFTE) scheme?
Aim: To encourage MSMEs to offer products and services of international standards for the global market.
This will enhance the participation of Indian MSMEs in the global value chain and help them realize their export potential.
What is the Prime Minister’s Employment Generation Programme (PMEGP)?
New Features of PMEGP
Firstly, increase in the maximum project cost to Rs 50 lakhs (from Rs 25 lakhs) for the manufacturing sector and Rs 20 lakhs (from Rs 10 lakhs) in the service sector.
Secondly, the inclusion of applicants from Aspirational districts & Transgenders in the Special Category applicants for availing higher subsidies.
Thirdly, handholding support is being provided to applicants/entrepreneurs through the engagement of banking, technical & marketing experts.
What is MSME Idea Hackathon,2022?
Aim: To promote and support the untapped creativity of individuals, promoting the adoption of the latest technologies and innovation among MSMEs.
The selected incubatee ideas will be provided funding support of up to Rs. 15 lakhs per approved idea.
Source: The post is based on the article “PM participates in ‘Udyami Bharat’ programme” published in PIB on 30th June 2022.
