National policy for MSME to come out this year

The Dollar Business Bureau

Ministry of Micro Small and Medium Enterprises (MSME) Minister Kalraj Mishra on Wednesday said the national policy for MSME, which is envisaged to boost the overall growth of the sector, will come out by the end of this year.

Highlighting the two-year achievements of the MSME ministry, Mishra said his government has formed a one man committee, to complete all the recommendations by October 31, 2016.  

Mishra praised Prime Minister Narendra Modi for taking up schemes like MUDRA and Stand up India, which has significantly increased the number of MSMEs in the country.

“The major achievement of the ministry is to come up with a Scheme of Revival and Rehabilitation of MSMEs. The scheme will start benefitting the MSMEs from July 1, 2016 by which time the banks will set up various branch-wise committees to take up the cases of revival of MSMEs,” Mishra said.

The government has increased funds to boost all the key programmes in the current financial year. It has allotted almost Rs.200 crore for performance and credit rating schemes which could help more than 10,000 MSME units.

Mishra said he has also approved several schemes with the idea to open technology centres in every North-Eastern State including Sikkim.

The Union Ministers also underscored that various components of National Manufacturing Competitive Programmes (NMCP) including Lean Manufacturing, Technology and Quality Upgradation and Design Clinic are being made mobile friendly with the launch of MyMSME application.