RAMP Programme
22-12-2023
RAMP Programme
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For Prelims: About the RAMP Programme, Objectives, Sub schemes under RAMP,Other Initiatives by India for MSME sector |
Why in the news?
Recently, the Union Minister for Micro, Small & Medium Enterprises (MSME) launched three sub-schemes under the aegis of the RAMP programme.
About the RAMP Programme:
- The Raising & Accelerating MSME Performance (RAMP) programme is assisted by the World Bank.
- It aims to improve the performance of micro, small, and medium enterprises (MSMEs) in India.
- It was launched in 2022.
- The RAMP programme will be implemented over a period of five years. The total outlay for the scheme is ₹6,062.45 crore or USD 808 Million, out of which ₹3750 crore or USD 500 Million would be a loan from the World Bank and the remaining ₹2312.45 crore or USD 308 Million would be funded by the Government of India (GoI).
Objectives:
- Improving access to market and credit for MSMEs
- Strengthening institutions and governance at the central and state levels
- Improving centre-state linkages and partnerships
- Addressing issues of delayed payments
- Greening of MSMEs
The National MSME Council has been set up by the Ministry to work as an administrative and functional body of the RAMP Programme.
Sub schemes under RAMP:
MSME GIFT Scheme: MSME Green Investment and Financing for Transformation Scheme intends to help MSMEs adopt green technology with interest subvention and credit guarantee support.
MSE SPICE Scheme: The MSE Scheme for Promotion and Investment in Circular Economy aims to support circular economy projects which will be done through credit subsidy and will lead to realising the dream of MSME sector towards zero emissions by 2070.
MSE ODR Scheme: The MSE Scheme on Online Dispute Resolution for Delayed Payments is a first of its kind scheme to synergise legal support with modern IT tools and Artificial Intelligence to address the incidences of delayed payments for Micro and Small Enterprises.
Implementing agencies of the sub schemes: Small Industries Development Bank of India (SIDBI) for MSME GIFT and MSME SPICE schemes and National Informatics Centre Services Inc. (for NICSI) for MSE ODR scheme.
Other Initiatives by India for MSME sector
- Prime Minister Employment Generation Programme and Other Credit Support Schemes
- Financial Support to MSMEs in ZED Certification Scheme
- A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE)
- National Manufacturing Competitiveness Programme (NMCP)
- Entrepreneurship Skill Development Programme (ESDP)
- Scheme of Fund for Regeneration of Traditional Industries (SFURTI)
Source:PIB