India needs an ecosystem that’s conducive to MSME expansion

Source: Live Mint Relevance: Issues related to the growth of MSMEs in India Synopsis: We must adapt our policy settings to favor new opportunities for small businesses if we want them to play a big role in job creation. Context With 65% of India’s population below the age of 35, job generation by micro, small… Continue reading India needs an ecosystem that’s conducive to MSME expansion

MSME liquidity line set to widen as more NBFCs start ‘factoring’

Source: Indian Express Synopsis: Factoring law amendments have been cleared in both Houses of Parliament in the current session. This will enable nearly 9,000 NBFCs to participate in the factoring market instead of just seven now. Background Read here: https://blog.forumias.com/how-the-factoring-business-can-help-small-companies/ Benefits to small businesses: new Points It will significantly boost funding availability for MSMEs, lower… Continue reading MSME liquidity line set to widen as more NBFCs start ‘factoring’

Analysis of government relief package- Explained, pointwise

Syllabus: Indian Economy and issues relating to planning, mobilization, of resources Introduction The Indian economy has fallen behind by several years if one looks at the gross domestic product (GDP) numbers, the sectoral value added in manufacturing and construction, or the actual off-take of items like electricity, steel, cement, vehicles, and so on. The principal… Continue reading Analysis of government relief package- Explained, pointwise

Cabinet approves Rs 3 lakh cr emergency credit line for MSME

News: Union Cabinet has approved additional funding of up to Rs.3 lakh crore through introduction of Emergency Credit Line Guarantee Scheme(ECLGS) for MSMEs. Facts: Aim: To mitigate the economic distress being faced by about 45 lakh MSMEs by providing them additional funding of up to Rs 3 lakh crore in the form of a fully… Continue reading Cabinet approves Rs 3 lakh cr emergency credit line for MSME

MSME Ministry launches CHAMPIONS portal

News:Ministry of Micro, Small and Medium Enterprises(MSME) has launched CHAMPIONS portal. Facts: CHAMPIONS stands for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength. It is a technology driven portal which aims to assist Indian MSMEs to enter into the big league as national and global champions by solving their… Continue reading MSME Ministry launches CHAMPIONS portal

Meeting held to review MSME key Schemes Generating Employment

News:The Ministry of Micro, Small & Medium Enterprises(MSMEs) held a meeting to review some of the key schemes such as Prime Minister’s Employment Generation Programme(PMEGP) and Credit Guarantee Fund Trust for Micro and Small Enterprises(CGTMSE). Facts: About PMEGP: It is a credit-linked subsidy scheme launched in 2008-09 by the Ministry of MSME. Aim:To promote self-employment… Continue reading Meeting held to review MSME key Schemes Generating Employment

States with smaller population take the lead under PMEGP

News:According to the data presented by the Ministry of Micro, Small and Medium Enterprises,states with smaller population take the lead under Prime Minister’s Employment Generation Programme(PMEGP) in the last four years. Facts: The states with smaller populations such as Tamil Nadu, Assam, Karnataka and Arunachal Pradesh except Uttar Pradesh have emerged as major beneficiaries of… Continue reading States with smaller population take the lead under PMEGP

Enterprise development centres

News:Union micro, small and medium enterprises sector (MSME) minister will launch the enterprise development centres(EDCs). Facts: About EDC Enterprise Development Centres(EDCs) are aimed at developing a cadre of indigenous entrepreneurs in the MSMEs. They are planned for every district by the end of the current financial year (2019-20). The EDCs will be similar to incubators… Continue reading Enterprise development centres

SIDHIEE Portal

News:Union Minister for Micro Small and Medium Enterprises has launched Knowledge Management Portal “SIDHIEE”. Facts: The portal was launched at the National Conclave on Enhancing Energy Efficiency. This Conclave was organized by the Bureau of Energy Efficiency(BEE). SIDHIEE Portal The portal was launched under the Bureau of Energy Efficiency Micro Small and Medium Enterprises(BEE’s MSME)… Continue reading SIDHIEE Portal

TECHSAKSHAM

Union Minister for Micro Small and Medium Enterprises(MSMEs) has launched Tech Saksham. The project is a collaboration between the Ministry of MSME and Confederation of Indian Industry(CII).The project will bring together technology majors to address technological gaps faced by MSMEs in their growth. The aim of the project is to bridge the gap in technology… Continue reading TECHSAKSHAM