Cabinet nod for Rs. 6,062 crore MSME scheme

The Union Cabinet approved Rs 6,062 crore for World Bank assisted programme for the MSME sector, which is meant to improve their access to market and credit, address issues related to delayed payments and greening of the sector apart from strengthening governance.

Raising and Accelerating MSME Performance (RAMP) scheme is to be implemented in the next financial year and is meant to address Covid-19 and generic challenges faced by the sector.

MSMEs have been among the worst hit segments of the economy during the pandemic period with several units shutting down due to payment and credit issues.