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RAMP programme for MSMEs
April 28, 2022
The MSME sector in India has been contributing significantly to the country’s economy as a major partner in the socio-economic development process. MSMEs can make due in the ongoing competitive environment due to their flexibility and resilience.
However, there are many persistent challenges like availability of adequate credit, access to the market, appropriate technologies for achieving scale and quality, and other administrative and governance issues which need to be addressed on regular basis.
In order to mitigate adverse impact of Covid-19 on the operations of the MSME sector, the Government of India has made a few announcements to bring changes in policies to promote the interests of MSMEs and make their operations comparatively easier.
Recently the government has approved a $808 million (₹6062.45 crore) program on ‘Raising and Accelerating MSME Performance’ (RAMP), a scheme partially funded by the World Bank, which would commence from FY 2022-23.
The major objectives of the programme are to further improve access to market and credit, strengthen institutions and services at the centre and state, further develop centre state linkages and partnerships, address issues of delayed payments, and greening of MSMEs.
Important Links:
- Post Graduate Diploma in Management (PGDM): https://tscfm.org/courses/3-in-1-management-program/