Budget 2018 2019 focus on MSMe

The government has in Budget 2018-19 rightly focused on micro, small and medium enterprises (MSMEs) as the preferred route for rapid job creation and self-employment. The MSME sector employs over 111 million people and contributes nearly 31 per cent of India’s GDP.   Sharpening the focus on the promotion of self-employment, the government has increased funding for the Prime Minister’s Employment Generation […]

Credit ratings for MSME

A scheme for Micro and Small Enterprises has been formulated in consultation with Indian Banks’ Association (IBA) and Rating Agencies. NSIC has been appointed the nodal agency for implementation of this scheme through empanelled agencies. Benefits of Performance and Credit Rating • An independent, trusted third party opinion on capabilities and credit-worthiness of Micro and […]

2018 -19 Budget and MSME

The 2018-19 Budget has given a big thrust to Micro, Small and Medium Enterprises (MSMEs) sector to boost employment and economic growth. 1. The budgetary allocation has gone up from Rs 6481.96 crore in 2017-18 to Rs.6552.61 crore in 2018-19. The allocation for individual Schemes (apart from CGTMSE) has gone up by 59%, from Rs.3680 […]