Empowering MSMEs with News & Insights

BJP Manifesto highlights sops for MSMEs, traders and startups

Updated: Apr 08, 2019 08:12:42am

BJP Manifesto highlights sops for MSMEs, traders and startups

New Delhi, Apr 8 (KNN) With just 3 more days to go for polling for General Elections 2019, Prime Minister Narendra Modi along with the BJP President Amit Shah today released the ruling Bharatiya Janata Party’s (BJP's) manifesto. The "Sankalp Patra" of BJP promises to establish 'National Traders Welfare Board’ for Micro and Small Enterprises (MSEs).

The party promises to create a National Policy for Retail Trade for the growth of retail businesses and also promises pension for small traders.

Document of promises has been crafted on the theme of a "Sankalpit Bharat - Shashakt Bharat" or "determined India, empowered India".

To protect the interests of small traders, BJP promised to provide an accident insurance of 10 lakh rupees to all the traders registered under GST.

On the lines of Kisan credit card, BJP will also create a scheme to give merchant credit card to registered merchants.

BJP also promised to set-up new 'Entrepreneurial Northeast' scheme to provide financial support to the MSME industry for employment generation in the North-eastern state.

While releasing the manifesto, BJP said “A special package was launched by the Government to boost the MSME sector. The Credit Guarantee Scheme of the Government of India is an important component wherein loans to MSMEs are guaranteed.”

“Under this alone, the credit of around Rs 19,000 crore was achieved in 2017-18. We would aim to take this to Rs 1,00,000 crore by 2024,” it said.

The Manifesto further said, “Technology access and up gradation are key elements in the MSME sector. Our government has taken a major step in expanding of ‘Technology Centres’ and we would achieve more than 150 such centres all over the country by 2024.”

“These Technology Centres would help in mentoring skilling and prototyping of MSMEs. They will expose MSMEs to Aicial Intelligence, Robotics, Internet of Things, Viual Reality, BlockChain technology and Zero Defect Zero Effect,” it added.

Sankalp patra said, “The Technology Centres, other skilling centres of MSMEs and NSICs incubation centres alone would provide focused and high level skilling to more than 6 lakh people per year.”

To encourage the spirit of entrepreneurship among the youth, BJP promised to launch a new scheme to provide collateral-free credit up to 50 lakh for entrepreneurs.

Manifesto read, “We will guarantee 50% of the loan amount for female entrepreneurs and 25% of the loan amount for male entrepreneurs.”

Mentioning about the startups the Manifesto said, “India is now among the largest Startup ecosystems of the world.”

BJP promises to further strengthen startup ecosystem by: easing regulatory requirement for start-ups, targeting time spent for tax compliance at 1 hour per month, facilitating establishment of 50,000 new startups in the nation by 2024, creating 100 innovation zones in urban local bodies, setting up 500 new incubators and accelerators by 2024 and Initiating ranking of Central Ministries, departments, State Governments and CPSUs for their increased engagement with start-ups and in bringing in innovation and newer technologies and global practices and skills.

BJP also promises to continue to promote and encourage startups through creation of a ‘Seed Startup Fund’ of Rs 20,000 crore.

Manifesto said, “We will support entrepreneurial ventures started by individuals from Scheduled Castes, Scheduled Tribes, Other Backward Communities, or Economically Weaker Sections and take forward the ‘Standup India’ initiative.”

The Lok Sabha Elections 2019 will be held in seven phases, from April 11 to May 19, 2019 across India's 543 constituencies in 29 states and 7 Union Territories. (KNN/JM)


    Be first to give your comments.


Required fields are marked *