Today, we celebrate World MSME (Micro, Small, and Medium Enterprises) Day! This day is dedicated to recognizing the significant contributions of MSMEs to the global economy.
Theme for 2024: "Building a Stronger Future Together"
This year's theme emphasizes the collective efforts needed to strengthen the MSME sector and build a more resilient future. Here are some key details and updates about MSMEs:
Important Information about MSMEs
- MSME Act: Established in 2006 to support the growth of MSMEs.
- Minister of MSME: Jitan Ram Manjhi
- Secretary of MSME Ministry: Shri S.C.L. DAS
- KVIC (Khadi and Village Industries Commission): Operates under the MSME Ministry.
- UK Sinha Committee: Focuses on the development of MSME sectors.
New Criteria for MSMEs
- Micro Unit: Investment up to ₹1 Cr and turnover below ₹5 Cr.
- Small Unit: Investment up to ₹10 Cr and turnover below ₹50 Cr.
- Medium Unit: Investment up to ₹50 Cr and turnover below ₹250 Cr.
Recent News Highlights
- GAME and SIDBI Launch “NBFC Growth Accelerator Program”: This initiative aims to ease funding issues faced by MSMEs.
- Vivad Se Vishwas Scheme I: Provides relief for MSMEs impacted by COVID-19.
- CGTMSE Scheme: Enhances credit access for MSMEs with a ₹2 Lakh Cr guarantee.
- Government’s Competitive (LEAN) Scheme: Aims to strengthen the MSME sector.
- Indian Bank’s ‘MSME Prerana’ Programme: Recently launched in Rajasthan to support MSMEs.
Conclusion
On this World MSME Day, let's acknowledge the vital role of MSMEs in building a stronger future. With continued support and innovative schemes, we can ensure the growth and success of these enterprises.
