Promotion of Entrepreneurship in MSME Sector

Ministry of Micro,Small & Medium Enterprises

Promotion of Entrepreneurship in MSME Sector

Posted On: 08 DEC 2022 12:59PM by PIB Delhi

Ministry of MSME implements various schemes/programmes for the promotion and development of Micro, Small and Medium Enterprises (MSMEs) sector across the country including Bihar which inter alia include Prime Minister’s Employment Generation Programme (PMEGP), Micro and Small Enterprises-Cluster Development Programme (MSE-CDP), Scheme of Fund for Regeneration of Traditional Industries (SFURTI), Credit Guarantee Scheme for Micro and Small Enterprises (CGTMSE), A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE).

The Government has taken a number of recent initiatives to support MSMEs in the country including Bihar, which inter alia include:

1. Rs. 5 lakh crore Collateral Free Automatic Loans for business, including MSMEs.
2. Rs. 50,000 crore equity infusion through MSME Self-Reliant India Fund.
3. New revised criteria for classification of MSMEs.
4. No global tenders for procurement up to Rs. 200 crores.
5. “Udyam Registration” for MSMEs, for Ease of Doing Business.
6. Launching of an online Portal “Champions” in June, 2020 to cover many aspects of e-governance including grievance redress and handholding of MSMEs.
7. Inclusion of Retail and Wholesale trades as MSMEs w.e.f. 02^nd July, 2021.
8. Non-tax benefits extended for 3 years in case of an upward change in status of MSMEs.

‘Udyam Registration’ portal was launched on 01.07.2020 for registration of MSMEs under the new definition. Number of MSMEs registered on the portal, since inception till 02.12.2022 are given below:

Ministry of MSME implements ‘Entrepreneurship and Skill Development Programme’ (ESDP) scheme to develop entrepreneurship attitude/skill among the youth across the country by motivating youth representing different sections of the society including SC/ST/Women, differently abled, Ex-servicemen and BPL persons. The main objective of the scheme is to promote new enterprises, capacity building of existing MSMEs and inculcating entrepreneurial culture in the country.

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 Lok Sabha.

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