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Indian Prime Minister Encourages MSME Sector Government and Necessary Policy Changes

On Thursday 30 June, Prime Minister Narendra Modi assured the 'MSME', or Micro, Small and Medium Enterprises Sector, to encourage small entrepreneurs. He assures that the centre is ready to make necessary policy changes. This decision is taken to support small entrepreneurs, as they are playing a key role in the "AtmaNirbhar Bharat' (self-reliant India). Within the past 8 years, the MSME sector has played a very important role in shaping the AtmaNirbhar Bharat. MSME is essential for AtmaNirbhar Bharat.


 


AtmaNirbhar Bharat (self-reliant India) is initiated by the Prime Minister of India, Narendra Modi, and the Indian Government in relation to the economic vision and development of the country. The aim of AtmaNirbhar Bharat is to make the country and its citizens independent and self-reliant altogether, and to assist our country out of the Coronavirus crisis by making us self-reliant. 


 


Prime Minister Narandra Modi addressed the 'Udyami Bharat' programme, encouraging "Small entrepreneurs to register themselves on the GEM portal for supply of products to the government". Narandra Modi said he would like to see a one crore increase in new registration on the GEM portal. 


 


The Prime Minister said, in the last eight years the government has increased the budget by more than 650 percent to strengthen the MSME sector. Modi said, if any industry wants to expand and grow, then the government will support them and also make necessary changes in the policies. 


 


Earlier, the prime minister launched Rs 6,000 crore towards the ‘Raising and Accelerating MSME Performance’ (RAMP) scheme. The Prime minister has also launched the Capacity Building of First-Time MSME Exporters (CBFTE) scheme to encourage services and exports of products.


 


There are also new features launched by the Prime Minister named ‘Prime Minister’s Employment Generation Programme’ (PMEGP). These include an increase in the maximum project cost to Rs 20 lakh for the service sector and Rs 50 lakh in the manufacturing sector.


 


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Tags: self reliant India Atmanirbhar Bharat Udyami Bharat



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