‘Udyami Bharat’ Programme

On June 30, 2022, Prime Minister Narendra Modi participated in ‘Udyami Bharat’ programme.

Key Facts

• On the occasion, he launched following key initiatives:

1. Raising and Accelerating MSME Performance(RAMP) scheme
2. Capacity Building of First-Time MSME Exporters(CBFTE) scheme
3. New features of Prime Minister’s Employment Generation Programme (PMEGP) to boost the MSME sector.

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

About RAMP scheme

• The Raising and Accelerating MSME Performance(RAMP) scheme was launched with an outlay of around Rs 6000 crore.
• It is aimed at scaling up the coverage and implementation capacity of MSMEs across the states, along with the impact enhancement of existing MSME schemes.
• RAMP will complement the Aatmanirbhar Bharat Abhiyan, by encouraging innovation, ideation, entrepreneurship, improving practices & process, incubating new business by developing quality standards, enhancing market access, deploying technological tools and Industry 4.0 for making MSMEs competitive and self-reliant.

About CBFTE Scheme

The Capacity Building of First-Time MSME Exporters (CBFTE) scheme aims to encourage MSMEs for offering products and services of international standards to global market. It will also enhance the participation of Indian MSMEs at international value chain. CBFTE will help them in realising their export potential.

New features of the PMEGP

New features of Prime Minister’s Employment Generation Programme (PMEGP) include:

1. Increase in maximum project cost from Rs 25 lakhs to Rs 50 lakhs for manufacturing sector
2. For service sector, it has increased from Rs 10 lakhs to Rs 20 lakhs.

MSME Idea Hackathon, 2022

The Hackathon was organised with the aim of promoting and supporting the untapped creativity of individuals and promoting latest technologies & innovation among MSMEs.

National MSME Awards 2022

The award recognises the contributions of MSMEs, Aspirational Districts, states/UTs, and Banks for their outstanding performance in terms of growth and development of MSME sector in India.

Month: Current Affairs - July, 2022

Category: Economy & Banking Current Affairs • Government Schemes Current Affairs