Prime Minister Narendra Modi participated in the ‘Udyami Bharat’ programme

Date:

Prime Minister Narendra Modi participated in the ‘Udyami Bharat’ programme and launched key initiatives like ‘Raising and Accelerating MSME Performance (RAMP) scheme, Capacity Building of First-Time MSME Exporters (CBFTE) scheme and new features of the Prime Minister’s Employment Generation Programme (PMEGP) to ramp up the MSME sector.

Modi also digitally transferred assistance to beneficiaries of PMEGP for 2022-23; announced results of the MSME Idea Hackathon, 2022; distributed National MSME Awards, 2022; and issued Digital Equity Certificates to 75 MSMEs in the Self Reliant India (SRI) Fund.

RAMP scheme with an outlay of around Rs 6000 crore, aims to scale up the implementation capacity and coverage of MSMEs in the states, with impact enhancement of existing MSME schemes.

It will complement the Aatmanirbhar Bharat Abhiyan by fostering innovation, encouraging ideation, incubating new business and entrepreneurship by developing quality standards, improving practices and processes, enhancing market access, deploying technological tools and Industry 4.0 to make MSMEs competitive and self-reliant, stated a PMO presser.

CBFTE scheme aims 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 realise their export potential.

New features of the PMEGP include an 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 and inclusion of applicants from aspirational districts & transgenders in special category applicants for availing higher subsidies. Also, handholding support is being provided to applicants/entrepreneurs through the engagement of banking, technical & marketing experts.

MSME Idea Hackathon, 2022 was aimed at promoting and supporting 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.

National MSME Awards 2022 is a recognition of the contributions of MSMEs, states/UTs, Aspirational Districts and Banks for their outstanding performance in the growth and development of India’s dynamic MSME sector.

━ related

Centre Approves 3rd Revival Package for BSNL Worth Rs 89,047 Crores

The central government has given its approval for the third revival package for Bharat Sanchar Nigam Limited (BSNL) amounting to Rs 89,047 crores. This significant financial injection aims to revitalize the state-owned telecom operator, strengthen its infrastructure, and enhance its competitiveness in the rapidly evolving telecommunications sector.

Eurozone in Recession at the Start of 2023: Economic Challenges and Recovery Efforts Ahead

The Eurozone has entered a period of recession at the beginning of 2023, signaling significant economic challenges for the region. As countries grapple with the impact of the recession, concerted efforts are underway to stimulate recovery and restore economic stability in the Eurozone.

Pradhan Mantri Jan Aushadhi Yojana: Making Healthcare Affordable and Accessible for All

The Pradhan Mantri Jan Aushadhi Yojana is a flagship program aimed at providing affordable and quality generic medicines to the masses. By making essential medications accessible to all, this initiative is revolutionizing healthcare in India and ensuring that no one is deprived of essential treatment due to financial constraints.

Award-Winning DD Anchor Gitanjali Aiyar Passes Away

Gitanjali Aiyar, a renowned and award-winning anchor from Doordarshan (DD), has sadly passed away. Her contribution to the field of journalism and her captivating presence on screen will be remembered as a significant part of India's media history.

India Emerges as the World’s 2nd Largest Producer of Crude Steel

India has achieved a significant milestone by becoming the second-largest producer of crude steel globally. This achievement underscores India's growing industrial prowess and its contribution to the global steel industry. The remarkable growth in steel production is a testament to India's manufacturing capabilities and its commitment to economic development.