Page 7 - Cgtmse

OVERVIEW FINANCIAL STATEMENTS

in encouraging the MSME D) Scheme for Marketing removing the on-ground hurdles,
segment and ensuring that Assistance easy access to credit being a
large number of MSMEs benefit prime example. Schemes such
a. Scheme for providing
from various incentive schemes as CGTMSE have helped many
financial assistance to
launched. Khadi institutions under MSEs access formal credit with
MPDA ease.
Various Scheme for E) Schemes for Technology It is important to bring the MSE

MSME Upgradation and sector under the umbrella of

A) Schemes for Credit and Competitiveness financial inclusion in India.
Sustainable growth of this sector
Financial assistance to a. MSME Sustainable (ZED)
MSMEs will be ensured only if they are
b. MSME-Innovative (for able to easily access finance
a. Prime Minister’s Incubation, IPR, Design in a timely manner. This can be
Employment Generation and Digital MSME) achieved only if there is a strong
Programme (PMEGP) F) Other Schemes for the financial ecosystem. Apart
b. Credit Guarantee Fund MSMEs across the country from banks and NBFCs, fintech
Trust for Micro and Small a. Ministry of MSME companies are also exploring
Enterprises (CGTMSE) - UNIDO, GEF-5 Project innovative digital financial
Enabler of Collateral Free on ‘Promoting Market solutions to MSEs. Digital lenders
Credit for MSEs Transformation for Energy have an innovative approach to
B) Schemes for Skill Efficiency in Micro, Small & lending. They are pushing the
Development and Training Medium Enterprises’ Credit underwriting frontiers in
mapping creditworthiness of
a. Scheme for Promotion b. Raising and Accelerating borrowers by scanning their
of Innovation, Rural MSME Performance economic behavior, payment
(RAMP) Scheme
Industries and history etc. through various data
Entrepreneurship (ASPIRE) sources available with consent.
Outlook
b. Entrepreneurship and Going forward, the entry of more
Skill Development There is no doubt that MSEs play data and technology-driven
Programmes (ESDP) a critical role in Nation Building fintechs to finance MSEs will
C) Schemes for Infrastructure and growth of the economy. It strengthen both – the MSEs and
Development - Support is necessary that the support to the financial sector.
through Cluster Approach. this segment is accelerated and No doubt there is a long
government targets its ease of road to traverse but it is also
a. Scheme of Fund
for Regeneration of doing business initiative towards beyond doubt that with
Traditional Industries MSEs. The targeted government entrepreneurship, innovation
(SFURTI) policies can be a major catalyst and agility at its core, the MSE
in guiding MSEs to the desired sector cannot only play a vital
b. Micro and Small sectors of the economy to fuel role in making India a US$5
enterprises Cluster growth of the economy. This trillion economy in the next five
Development Programme could be done by framing years but can also become a
(MSE-CDP) conducive policies, offering growth engine for making India
incentives and most important, a developed country by 2047.

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