Ease of Doing Business for MSMEs: “Government has announced a Rs 6,000-crore Raising and Accelerating MSME Performance (RAMP) programme for MSMEs,” PM Modi said on Thursday.
Ease of Doing Business for MSMEs: Prime Minister Narendra Modi in a post-budget webinar on Thursday said the special focus has been given in the budget to strengthen MSMEs through credit facilitation and technology upgradation initiatives. For instance, “Government has announced a Rs 6,000-crore Raising and Accelerating MSME Performance (RAMP) programme for MSMEs,” PM Modi said in his address to the industry representatives during the webinar on Make in India organised by the Department for Promotion of Industry and Internal Trade (DPIIT).
Finance Minister Nirmala Sitharaman in her budget speech last month had announced that the RAMP programme will be rolled out in the coming five years to improve the competitiveness and productivity of MSMEs. RAMP is a central government scheme in partnership with the World Bank for five years – FY22 to FY26 announced last year with the World Bank’s contribution earmarked at Rs 3,750 crore under the Credit Linked Capital Subsidy and Technology Upgradation Scheme.
In terms of digital support for MSMEs, the budget had announced interlinking of Udyam, e-Shram, National Career Service (NCS), and Atmanirbhar Skilled Employee-Employer Mapping (ASEEM) portals to make access to government data on registration of MSMEs, unorganised workers, availability of skilled workforce, etc., more seamless.
PM Modi added that the focus has also been given in the budget to develop new “railways logistics products” for large industries, MSMEs and farmers. Moreover, the integration of postal and railway networks, PM Modi said, will solve the problem of connectivity for small enterprises and remote areas in terms of the movement of parcels.
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Importantly, in order to attract MSMEs as supply chain vendors, Indian Railways in January this year has reduced its vendor application fee by 93 per cent from Rs 1.5 lakh to Rs 10,000 for identified safety items, Railways Ministry had said. For businesses other than MSMEs, the fee was cut 94 per cent from Rs 2.5 lakh to Rs 15,000.
The Prime Minister also noted the removal of 25,000 compliances so far to ease the compliance burden on businesses. “From Common Spice Form to National Single Window System to set up a company, now you are feeling our development-friendly approach at every step”, PM Modi said.
In order to boost Make in India, the Prime Minister urged industry leaders to take responsibility for manufacturing certain products within the country that are currently being imported. “Can you take the challenge of creating an environment within one year that will help India stop importing certain goods by taking the onus of making some of those goods in-house?”