The recent MSME (Micro, Small, and Medium Enterprises) policy in India includes several key initiatives aimed at supporting and promoting the growth of MSMEs. Some of the notable measures include:
1. Revised Definition: The government has revised the definition of MSMEs to provide broader covera...
Atmanirbhar Bharat Abhiyan (2020): This policy was launched in response to
the COVID-19 pandemic to promote self-reliance and resilience in the Indian
economy. The policy includes several measures to support MSMEs, such as
collateral-free loans, interest rate subsidies, and a fund of Rs. 50,000 crore for
equity infusion in MSMEs.
Scheme of Fund for Regeneration of Traditional Industries (SFURTI) (2019):
This scheme was launched to promote the development of traditional
industries such as handicrafts, handloom, and khadi. The scheme provides
support for the establishment of common facilities such as processing centers,
training centers, and marketing facilities.
Pradhan Mantri Mudra Yojana (PMMY) (2015): This scheme was launched to
provide financial support to small businesses and entrepreneurs in the form of
loans up to Rs. 10 lakh. The scheme has three categories of loans – Shishu,
Kishore, and Tarun – based on the stage of the business.
Credit Linked Capital Subsidy Scheme (CLCSS) (2015): This scheme was
launched to promote technology upgradation in MSMEs. The scheme
provides a subsidy of 15% of the investment in plant and machinery, up to a
maximum of Rs. 15 lakh, for MSMEs that adopt technology.
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