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Your email address will not be published.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

The contribution of MSMEs in Employment generation and GDP growth of India

During last five years, a total of 1,98,736 MSME units were set up and started ...

MSME Minister Approves a New Scheme to Make India Aatmanirbhar in Agarbatti Production

Union Minister for MSME, Shri Nitin Gadkari has approved a unique employment generation program proposed ...

Conversion of knowledge into wealth is important for development of manufacturing sector in India – Shri Nitin Gadkari

Union Minister for MSME and Road Transport and Highways, Shri Nitin Gadkari  held meeting yesterday ...

Ministry of MSME shows the way to make MSMEs break their Barriers and become Champions

In a historic move, bold initiative and landmark decision, Ministry of Micro, Small and Medium ...

KVIC launches Sandalwood and Bamboo plantation, a new initiative to spur monetization of its assets

The Khadi and Village Industries Commission (KVIC), in a first of its kind initiative has ...

Enhanced Import Duty on Bamboo Sticks to give a big boost to Agarbatti and Bamboo Industries in India: KVIC

he Central Government’s decision to increase import duty on bamboo sticks from 10% to 25% ...

Cabinet approves Upward revision of MSME definition and modalities/ road map for implementing remaining two Packages for MSMEs (a)Rs 20000 crore package for Distressed MSMEs and (b) Rs 50,000 crore equity infusion through Fund of Funds

In line with Government of India’s top focus on energising MSMEs in the country, a ...

Government is exploring new financial lending institutions to support small-scale units – Shri Nitin Gadkari

Union Minister for MSME and Road Transport and Highways, Shri Nitin Gadkari today said that ...

Relief package announced by Union Government for different sectors and new MSME definition will give huge boost to industry: Shri Gadkari

Union Minister for MSME and Road Transport and Highways Shri Nitin Gadkari has said that ...

KVIC comes forward to hand-hold local production

The Khadi and Village Industries Commission (KVIC) has geared up to Prime Minister Shri Narendra ...

WP2Social Auto Publish Powered By : XYZScripts.com