Year End Recap of MoMSME

Jan 4, 2024

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Context (PIB): A year-end recap of the Ministry of MSME (MoMSME) schemes was presented.

Prime Minister’s Employment Generation Programme (PMEGP)

PMEGP was launched in 2008 and works under the Ministry of MSME.
PMEGP credit-linked subsidy scheme for providing employment opportunities by establishing micro-enterprises in the non-farm sector.
The maximum project cost admissible for setting up a new enterprise is Rs. 50 lakhs in the manufacturing sector and Rs. 20 lakhs in the service sector.
Geo-tagging of the PMEGP units and 2-day Entrepreneurship Development Programme (EDP) training are other features of PMEGP.

It aims to modernise processes, reduce waste, sharpen business competitiveness, and facilitate the National and Global reach and excellence of MSME clusters and entrepreneurs.

MSME-Sustainable (ZED): It creates awareness amongst MSMEs about Zero Defect Zero Effect (ZED) practices and incentivises them for ZED Certification.
MSME-Competitive (LEAN): It will train entrepreneurs to improve the efficiency of production processes with maximum resource utilisation to make them globally competitive and LEAN-certified.
MSME-Innovative: It will help MSMEs with innovation in incubation, design intervention and protecting IPR.

It was launched in 2023 as an upgraded version of the “CHAMPIONS” portal.
The portal will enhance user-friendliness and grievance resolution turn-around time to promote e-governance.

Central Tool Room & Training Centre (CTTC), Bhubaneswar, manufactured and supplied precision components for the ‘Chandrayaan-3’ and ‘Aditya L1’ missions.
The Institute for Design of Electrical Measuring Instruments (IDEMI), Mumbai, has manufactured and supplied a guiding device used in the assembly of the Chandrayaan-3.
MSME technical institutions are also undertaking indigenisation of defence components.