Home » MSME » MSME Ministry allocated Rs.7011 Crore in Budget 2019-20    

MSME Ministry allocated Rs.7011 Crore in Budget 2019-20    

Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal presented the Interim Budget 2019-20 in Parliament today. The Government has taken several measures to strengthen the Medium, Small and Micro Enterprises (MSMEs).  Highlights of the Union Budget 2018 for the Ministry of MSME are as under:

  1. An all-time high allocation of Rs.7011.29 crore has been made in the Budget of 2019-20.
  2. The flagship scheme for employment generation of the Ministry, namely Prime Minister Employment Generation Programme (PMEGP) got an all-time high allocation of Rs.2327 crore. This reiterates Government’s focus on creation of sustainable employment in the non-farm micro enterprise sector.
  3. For ensuring seamless credit guarantee to Micro and Small enterprises, Rs.597 crore has been provided under the Credit Support Programme.
  4. To provide funding for the 2% interest rebate on incremental loan up to Rs.1 Crore for GST-registered MSME units, Rs. 350 crore has been provided under ‘Interest Subvention Scheme for Incremental Credit to MSMEs’.
  5. Under the recent announcements made on 2nd November 2018, encompassing multiple initiatives and interventions for the MSME sector, 20 large and 100 small Technology Centres are going to be set up with a support of Rs.6000 Crore. This Budget has made allocation for this initiative.
  6. For setting up clusters in the manufacturing and artisan sectors, Rs.450 crore has been allocated. Allocation under National SCST-Hub has been increased substantially.
  7. Mission Solar Charkha has been launched in the current financial year, for which Rs.143 crore has been allocated under the BE 2019-20. The scheme envisages setting up production clusters, each employing 2000 youth in the rural area, at least 50% of which would be women.

About Indianindustry Media

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

Reduction of Sales, Production and Job Opportunities in Khadi Sector 

Sales, production and job opportunities in Khadi sector are showing an increasing trend since the ...

Growth of Exports of MSME Products 

The growth of exports of products manufactured by MSME units has been 7.5%, during the ...

GeM transactions to touch USD 100 billion in 3 years: Suresh Prabhu

Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, today launched the National ...

Food Processing Business In Odisha: A Paradigm Shift

Odisha can have an explosive growth if properly networked towards the development of food processing sector ...

Micro, Small & Medium Enterprises (MSME) in Odisha: The Road Ahead

 Indian aluminium sector is waking up to a whole new world of opportunities. If the ...

TEAM ODISHA: MARCHING AHEAD FOR A BETTER TOMORROW

  Odisha is backed by a stable Government, Proactive leadership and host of team activities ...

PMEGP helps more than 30, 000 women entrepreneurs  

Prime Minister’s Employment Generation Programme, (PMEGP), aimed at generating employment in rural and urban areas ...

KVIC Chairman launching e-marketing system- KIMIS.

The Khadi and Village Industries Commission (KVIC) today launched its, in-housedeveloped,single-umbrella e-marketing systemnamed Khadi Institution ...

President Inaugurates Udyam Sangam-2018 to mark UN SME Day 

President of India, Ram NathKovind, said that the MSME sector is leveraging the demographic dividend ...

2nd Edition of MSME Pulse Report by SIDBI-TransUnion CIBIL for June 2018 Quarter released

Small Industries Development Bank of India (SIDBI), a premier Financial Institution for the Promotion, Financing ...