DMPQ- Discuss the initiatives taken by government taken to boost the MSME sector.

. In order to boost the MSME sector, several schemes are operational. Some of the major initiatives taken for the development of this sector are :

  • Many financing bodies like IDBI and SIDBI provide concessional loans. Credit Guarantee Fund was established in 2000 to ensure supply of credit without  Credit Linked Capital Subsidy and Credit Guarantee Scheme are  other schemes for provision of capital and funding.
  • To enable greater access to finance by Small and Medium Enterprises (SME), two SME exchanges launched in Mumbai recently.
  • Cluster Approach – MSE-Cluster Development Program has been launched.
  • For skill development, entrepreneur skill development programs are launched  to generate first generation of entrepreneurs. NSDC has also been formed.
  • Import and Export Incentives in form of exemption from duty and reimbursement of export duty
  • Marketing support is also provided and National Small Industries Cooperation   has been established to provide marketing support to these industries
  • Place in Industrial Estates – Industrial Plots are reserved for MSMEs in Industrial estates. National Manufacturing Policy 2011 also provides for special treatment to MSMEs
  • Technology Centre Systems Program;
  • India Inclusive Innovation Fund;
  • Prime Minister’s Employment Generation Program;
  • Scheme for Extension of non tax benefits to MSMEs for three years.

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