Ecosystem for development of MSMEs


MSMEs employs 1109.89 lakh

Government emphasizes the promotion
Programmes and Schemes for MSMEs

The Government emphasizes the promotion of ecosystem for development of MSMEs in the country. Various programmes and schemes have been put in place with particular focus to develop and facilitate access to finance, skill development, infrastructure support, access to market, technology up-gradation and ease of doing business.

This was stated by Minister of State (Independent Charge) for Micro, Small and Medium Enterprises, Shri Giriraj Singh while replying to a question in the Rajya Sabha. The Minister informed the House that according to Central Statistics Office (CSO), the contribution of MSME in the Total Gross Value Added (GVA) has been 31.8% during the financial year 2016-17.

Funds budgeted for different schemes of the Ministry of MSMEs to support the development of MSMEs in the country for the year 2016-17 and 2017-18 have been Rs. 5462.71 crore and Rs. 6481.96 crore respectively, and the expenditure thereof during the year 2016-17 and 2017-18 have been Rs. 3650.07 crore and Rs. 6213.60 crores respectively.

The Minister further said that as per the 73rd Round of National Sample Survey (NSS) (July, 2015 – June, 2016), conducted by the Ministry of Statistics & Programme Implementation, there were 633.88 lakh unincorporated non-agricultural Micro, Small and Medium Enterprises (MSMEs) (excluding construction). These MSMEs were providing employment to 1109.89 lakh persons.

Nowadays, the Indian economy is more competitive than it has ever been. The World Economic Forum Report (WEFR) competitiveness report ranks India 40th out of 137 countries included in the report, up from 71st three years ago. And the World Bank ranks India’s economy as #100 in the ease of doing business (EoDB), up from the 130th position in 2016.

That’s why Modi enjoys nearly 80% job approval, according to Gallup. Moreover, 86% of Indians feel free under Modi – the highest in the past decade.



Comments

Post a Comment

Popular posts from this blog

Steady Fed rate led gold & silver's CPI gains fall

Image
Gold and silver's CPI soften over steady fed rate   At the juncture Colin Shah, MD, Kama Jewelry said, “The decision by the US Fed to keep the policy rate intact for the seventh consecutive time comes as per the industry expectations. Although the inflation has cooled down, it has still not come under the Fed’s expected range, thereby deferring the possibility of three rate cuts, which we could have possibly seen during this calendar year.   As per the forecast by Fed, it has hinted that it may start slashing rates from next year onwards wherein a rate cut of 100bps is in focus. However, we will have to wait and watch how the inflation numbers play out, which will further decide the possibility of rate cuts next year.   Gold prices saw some softness post Fed’s announcement in domestic market. Since Q2 of financial year is usually a dull phase due to monsoon and shraadh, we expect the prices to remain dampened during this period. Nevertheless, we hope for the demand ...
Read more

Opsydia appoint Sales & Marketing Director

Image
Jacqui Larsson to take charge effective immediately!   The UK-based laser technology specialist has made the senior appointment to bolster its international growth and develop the company’s roster of high-profile clients.   Leading diamond and gemstone security and traceability specialist, Opsydia, has announced the appointment of Jacqui Larsson to the position of Sales and Marketing Director, effective immediately.   As a London Diamond Bourse Council Member and a Fellow of the Gemmological Association of Great Britain (Gem-A), Larsson brings to Opsydia nearly two decades of experience in the diamond, gemstone and jewellery industries. Most recently, she has specialised in bespoke jewellery production, sustainable sourcing and traceable supply chains through her eponymous company, Jacqui Larsson Fine Jewellery.   Prior to joining the trade, Larsson qualified as a chartered accountant and worked in Australia, Hong Kong, and the United Kingdom for an internati...
Read more

Women Entrepreneurs are driving innovation & growth

Image
Smriti Irani leads GJEPC Session on Empowering Women Entrepreneurs   The Gem & Jewellery Export Promotion Council (GJEPC) organised a session titled “Empowering Women Entrepreneurs in the Business of Gem & Jewellery Exports” at the Deputy Speaker Hall, Constitution Club of India in New Delhi on 19th November. The event highlighted the critical role of women in driving innovation and growth in the gem and jewellery sector.    Former Union Minister Smt. Smriti Zubin Irani was the Chief Guest, known for her advocacy for women’s empowerment, Smt. Irani shared her vision for creating a more inclusive and supportive environment for women entrepreneurs in the industry.    Prominent GJEPC members in attendance included Shri Ashok Seth, North Region Chairman; Shri Anil Sankhwal, Convener, Studded Jewellery Panel; Shri Shaunak Parikh, Convener, Banking Insurance & Taxation; Renu Sharma, Member Studded Jewellery Panel, GJEPC and Sabyasachi Ray, Executive Direct...
Read more