GOVERNMENT LAUNCHES INITIATIVE FOR SME

Government has created the Raising and Accelerating MSME Performance (RAMP) Central Sector Program, which is sponsored by the World Bank. The initiative intends to develop institutions and governance at the Central and State levels, improve Centre-State ties and collaborations, and enhance MSMEs’ access to markets and financing, technological upgradation, and the resolution of concerns relating to delayed payments and greening of MSMEs.

The RAMP programme will be implemented over a five-year period. The programme would cost a total of Rs 6,062.45 crores, of which Rs 3,750 crore will be a loan from the World Bank and the rest Rs 2312.45 crores will be paid by the Government of India.

Interventions under the RAMP programme are aimed at enhancing the performance of the MSME sector, thereby creating more employment opportunities, by enhancing MSMEs’ access to markets, technology, and credit, increasing outreach to more MSMEs, including the service sector, gender and environmental initiatives, and so on.

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