New Delhi, Aug 18 (IANS): The total number of micro, small and medium enterprises (MSMEs) registered for various incentives on the Udyam Registration Portal and Udyam Assist Platform nationwide in the five-year period, from July 1, 2020 to July 31, 2025, has gone up to 6.63 crore, the Parliament was informed on Monday.

The Ministry of MSME has taken various steps for the promotion and development of the MSME sector which include launching Udyam Registration for MSMEs which has resulted in the ease of doing business for these small units while the rolling out of the Udyam Assist Platform (UAP) has facilitated bringing Informal Micro Enterprises (IMEs) under the formal ambit for availing the benefit under priority sector lending (PSL). Inclusion of retail and wholesale traders as MSMEs has further helped to benefit small businesses, Minister of State for MSMEs Shobha Karandlaje told the Rajya Sabha in a written reply.

The other measures include the government credit guarantee scheme for MSMEs has been revamped with the required infusion of funds of Rs 9,000 crore to facilitate additional credit of Rs 2 lakh crore for MSEs and expand employment opportunities.

The Self-Reliant India (SRI) Fund has been set up to infuse Rs 50,000 crore as equity funding in those MSMEs which have the potential and viability to grow and become large units.

The launch of the ‘PM Vishwakarma’ Scheme to provide end-to-end holistic benefits to the traditional artisans and craftspeople engaged in 18 trades has also been a major boost to the sector.

Collateral-free loans up to a limit of Rs 10 crore with effect from April 1, 2025, to MSEs with guarantee coverage up to 90 per cent, for various categories of loans are provided through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) under Credit Guarantee Scheme, the minister said.

The Trade Receivables Discounting System (TReDS) has been set up to facilitate the financing of trade receivables of MSMEs from corporates and other buyers, including government departments and public sector undertakings (PSUs), through multiple financiers electronically to solve the problem of delayed payment to MSMEs, she said.

Enhancement of maximum project cost from Rs 25 lakh to Rs 50 lakh for the manufacturing sector and from Rs 10 lakh to Rs 20 lakh for the service sector under the Prime Minister’s Employment Generation programme (PMEGP) has enhanced the scope of the scheme, the minister added.

–IANS

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