Adequate Budgetary Allocation For MSMEs: Giriraj Singh | SupportBiz


Adequate Budgetary Allocation For MSMEs: Giriraj Singh

there is expansion of potential of MSMEs into untapped sectors
Minister of State for Micro, Small and Medium Enterprises (MSMEs), Giriraj Singh has informed Lok Sabha on Thursday that during 2012-13, 2013-14 and 2014-15, the budgetary allocations to the Ministry of MSMEs for implementation of various schemes/ programmes for promotion and development of MSMEs were Rs.2,835.00 crore, Rs.2,977.00 crore, and Rs.3,327.00 crore, respectively. Allocations can be termed as adequate after taking into account the requirement of funds for promotion and development of MSME schemes, the availability of resources and the trend of the expenditure in the recent past, he added.
Giriraj Singh in another session added that the MSME sector in the country by conducting All India Census of the sector, periodically. As per the latest Census (Fourth Census), conducted (with base reference year 2006-07), wherein the data was collected till 2009 and results published in 2011-12, as well as data extracted from Economic Census 2005 conducted by Central Statistical Office (CSO), Ministry of Statistics & Programme Implementation (MoSPI), for activities excluded from Fourth Census, namely wholesale/retail trade, legal, educational and social services, hotel & restaurants, transports and storage & warehousing (except cold storage), the total employment in the MSME sector is 805.24 lakh. Employment in Registered and Unregistered Sectors are 93.09 lakh and 712.15 lakh respectively.
The Ministry has undertaken measures to simplify the procedure for registration of MSMEs through Udyog Aadhaar Memorandum (UAM) as a part of ease of doing business. This replaces the earlier lengthy and cumbersome procedure for filing Entrepreneurs Memorandum (Part-I and Part-II). This has facilitated the formalization of unregistered sector with the increasing pace of registration of MSMEs. Since inception of UAM from 18th September, 2015, more than 2.4 lakh units have been registered.The Ministry of Micro, Small & Medium Enterprises has been implementing various schemes / programmes to make products of MSMEs compete with imports and help the Micro, Small and Medium Enterprises for effectively competing with imports from China and other countries. Some of these schemes / programmes include National Manufacturing Competitiveness Programme (NMCP), Credit Guarantee Scheme, Credit Linked Capital Subsidy Scheme, Cluster Development Programme, Market Development Assistance Scheme and Vendor Development Programme for Ancillarisation. These schemes / programmes help MSMEs growth and increase their competitiveness to challenge cheap Chinese imports in the country.
The Ministry of MSME has been implementing several schemes and programmes to incentivize MSMEs to expand their potential. Major schemes / programmes are Assistance to Training Institute (ATI Scheme), Prime Ministers' Employment Generation Programme (PMEGP), A Scheme for Innovation of Promotion of Innovation, Entrepreneurship and Agro Industry (ASPIRE), Scheme of Fund for Regeneration of Traditional Industries (SFURTI), NMCP etc.