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21st December 2023 (9 Topics)

Three sub-schemes under the RAMP programme launched

Context

The Union Minister for MSME has launched three sub-schemes under the aegis of the RAMP programme namely, MSME Green Investment and Financing for Transformation Scheme (MSE GIFT Scheme), MSE Scheme for Promotion and Investment in Circular Economy (MSE SPICE Scheme) MSE Scheme on Online Dispute Resolution for Delayed Payments.

  • The Ministry exchanged Memorandum of Understanding (MoUs) with the implementing agencies SIDBI (for MSME GIFT and MSME SPICE schemes) and with National Informatics Centre Services Inc. (for NICSI) for MSE ODR scheme.

About

About the Schemes:

 

  • The MSME Green Investment and Financing for Transformation Scheme (MSME GIFT Scheme):It intends to help MSMEs adopt green technology with interest subvention and credit guarantee support.
  • The MSE Scheme for Promotion and Investment in Circular Economy (MSE SPICE Scheme): It is the first ever scheme in the Government 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.
    • The Support for Commercialisation of IP Programme (MSME – SCIP Programme) will enable the innovators in the MSME sector to commercialize their IPR.
  • The MSE Scheme on Online Dispute Resolution for Delayed Payments: It 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.
  • The National MSME Council has been set up by the Ministry to work as an administrative and functional body of the World Bank supported RAMP Programme to oversee inter-Central Ministerial/Departmental co-ordination, Centre State synergies and advise / monitor progress on the reforms mandated in the MSME sector.border="1" style="border-collapse: collapse; 

    RAMP programme:

    • It is a World Bank assisted Central Sector Scheme, supporting various CoronaVirus Disease 2019 (Covid) Resilience and Recovery Interventions of the Ministry of Micro, Small and Medium Enterprises (MoMSME).
    • Aimed at:
      • Improving access to market and credit
      • Strengthening institutions and governance at the Centre and State
      • Improving Centre-State linkages and partnerships
      • Addressing issues of delayed payments and greening of MSMEs
    • Components:Important component of RAMP is preparation of Strategic Investment Plans (SIPs), in which all states/UTs will be invited.
      • The SIPs would include an outreach plan for identification and mobilisation of MSMEs under RAMP, identify key constraints and gaps, set milestones and project the required budgets for interventions in priority sectors including renewable energy, rural & non-farm business, wholesale and retail trade, village and cottage industries, women enterprises etc.
      • The overall monitoring and policy overview of RAMP would be done by an apex National MSME Council.
      • The council will be headed by the Minister for MSME, including representation from various Ministries and supported by a secretariat.
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