Indian Economy News

PM Narendra inaugurates 'Raising & Accelerating MSME Performance' scheme

The "Raising and Accelerating MSME Performance (RAMP)" scheme was launched by Prime Minister Shri Narendra Modi on June 30 at Vigyan Bhawan in New Delhi. The scheme's budget, according to the Prime Minister's Office (PMO), is somewhere around Rs. 6,000 crore (US$ 759 million).

The programme intends to increase the states' ability to adopt and cover Micro, Small and Medium Enterprises (MSME) while maximising the benefits of current MSME programmes.

In order to make MSMEs competitive and self-sufficient, it will complement the Aatmanirbhar Bharat Abhiyan by fostering innovation, encouraging ideas, and incubating new businesses and entrepreneurship. It will do this by creating quality standards, improving practises and procedures, enhancing market access, and implementing technological tools and Industry 4.0.

Along with the RAMP programme, PM Modi also unveiled the "Prime Minister's Employment Generation Program’s (PMEG)" new features and the "Capacity Building of First-Time MSME Exporters" scheme.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.