Raising and Accelerating MSME Performance
The Union Cabinet has approved the “Raising and Accelerating MSME Performance” (RAMP) programme that is also supported by the World Bank and will cost Rs 6,062.45 crore.
- The newly launched RAMP scheme would commence in the Financial Year 2022-23.
- The recommendations for the RAMP scheme were made by KV Kamath Committee, U K Sinha Committee, and Economic Advisory Council to the Prime Minister (PMEAC).
The total financial outlay for the RAMP scheme is Rs.6,062.45 crore (USD 808 Million). World Bank will be providing a loan of Rs.3750 crore (USD 500 Million) for this programme and the remaining Rs.2312.45 crore (USD 308 Million) is being funded by the Central Government.
Aim of this programme
This scheme will be looking to support various COVID-19 related Recovery and Resilience Interventions of the Ministry of Micro, Small, and Medium Enterprises. The scheme will also be aiming to improve the access to credit and the market as well as strengthen the institutions and governance at the State and the Centre and State. It will also be looking to improve the partnerships of the Centre and the State as well as address the issues related to delayed payments. MSME’s capacity will also be increased through this programme and will also scale up MSME coverages in the states and UTs. This scheme will be looking to bolster skill development, capacity building, technological up-gradation, quality enrichment, outreach, digitization, marketing promotion, etc. It will also help in the creation of jobs and bringing in greening initiatives in this sector.
Implementation and Monitoring of this scheme
Strategic Investment Plans (SIPs) will be created for the implementation of Ramp and all the states and UTs of the country will be invited to provide inputs. Through the SIPs an outreach plan will be created for the mobilization and identification of MSMEs. National MSME Council which will be headed by Minister for MSME and will include representatives from other Ministries as well as a secretariat will be monitoring and evaluating this scheme.
Coverage of States and Districts
All the States and UTs of the country will be invited to prepare SIPs. The proposals that will be placed under the SIPs will be funded on the basis of their appraisals. The funds would be released based on the criteria of objective selection and the SIPs would be approved and appraised through a rigorous process set up by the MSME Ministry.