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MoMSME Introduces Three Sub-Schemes Under RAMP Programme

Context:

Ministry of Micro, Small and Medium Enterprises (MoMSME) has launched three sub-schemes under the RAMP programme, aimed at bolstering the MSME sector in India.

Relevance:

GS II: Government Policies and Interventions

Dimensions of the Article:

  1. Sub-schemes Unveiled in RAMP Programme
  2. RAMP Scheme Overview

Sub-schemes Unveiled in RAMP Programme

MSME Green Investment and Financing for Transformation Scheme (MSME GIFT Scheme):
  • Aims to facilitate MSMEs’ adoption of green technology.
  • Provides interest subvention and credit guarantee support.
  • Implemented by SIDBI.
MSE Scheme for Promotion and Investment in Circular Economy (MSE SPICE Scheme):
  • First-ever scheme supporting circular economy projects.
  • Involves credit subsidy to promote zero emissions by 2070.
  • Implemented by SIDBI.
MSE Scheme on Online Dispute Resolution for Delayed Payments:
  • Pioneering scheme integrating legal support and AI tools.
  • Addresses delayed payments for Micro and Small Enterprises.
  • Implemented by National Informatics Centre Services Inc. (NICSI)
Other Initiatives under Existing Schemes:
  • MSME – SCIP (Support for Commercialisation of IP Programme) supports innovators in commercializing intellectual property.
  • Zero Defect and Zero Effect (ZED Scheme) now made free for women-led MSMEs.
  • Government guarantees 100 percent financial support for certification cost.

RAMP Scheme Overview

  • World Bank assisted Central Sector Scheme.
  • Supports Covid Resilience and Recovery Interventions of MoMSME.
Aimed at:
  • Improve market and credit access.
  • Strengthen institutions and governance.
  • Enhance Centre-State linkages.
  • Address delayed payments and promote greening of MSMEs.
Components:
  • Strategic Investment Plans (SIPs) for all states/UTs.
  • SIPs include outreach plans, gap identification, milestone setting, and budget projections.
  • Focus on priority sectors like renewable energy, rural & non-farm business, trade, and women enterprises.
Monitoring and Policy Overview:
  • Oversight by the National MSME Council.
  • Headed by the Minister for MSME.
  • Inclusive representation from various Ministries.
  • Supported by a dedicated secretariat.

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