VIKSIT BHARAT 2047 UNDER MSMEs
VIKSIT BHARAT 2047 UNDER MSMEs
A number of initiatives have been taken by Ministry of Micro, Small and Medium Enterprises for creating an enabling environment for MSMEs. Government has a policy priority to ensure timely and adequate finances, relevant technologies and appropriate training for MSMEs. Some of the initiatives taken by Government include the following:
MSMEs play a crucial role in driving economic growth, innovation, and employment generation. Through the above measures, the goal of Viksit Bharat 2047 through MSME sector is expected to be achieved. The fund sanctioned for MSE-GIFT and MSE-SPICE Schemes are Rs. 478 crore and Rs. 472.5 crore for years 2023-26 and 2023-27, respectively.
This information was given by the Minister of Micro, Small and Medium Enterprises Shri Jitan Ram Manjhi in a written reply in the Lok Sabha today.
- MSE-GIFT Scheme has an objective to provide institutional finance to MSEs at a concessional cost to minimize or overcome the incremental cost of clean/green technologies coupled with adequate technical handholding support for adopting environment sustainable projects and climate change adaptation and mitigation technologies while ensuring growth and competitiveness of MSMEs. Projects like production of energy from renewable sources, clean transportation that involve lower greenhouse gas emissions; energy-efficient projects like green building; waste management that include recycling, etc. are included the Scheme.
- MSE-SPICE has a primary goal to promote resource efficiency, reduce environmental impact, and enhance the competitiveness of MSEs. Eligible MSEs are eligible for 25% capital subsidy on the cost of plant and machinery, subject to a cap of Rs. 12.5 lakh per MSE.