Budget allocated to MoMSME focuses on Credit Guarantee Scheme, Khadi

New Delhi, Feb 14 (KNN) Out of Rs 6,481.96 crore allocated to the Ministry of Micro, Small and Medium Enterprises (MoMSME), Rs 3,002 crore has been provided to the Credit Guarantee Scheme.

The fund aims to support 4,68,000 credit proposals while approving a credit guarantee to the tune of Rs 17,955 crore.

Further, according to a media report, a sum of Rs 1,024.49 crore has been earmarked towards the Prime Minister's Employment Generation Programme (PMEGP), for setting up 56,500 micro units and employing 4.52 lakh persons.

To improve the employability of trained individuals and enhance job prospects, Rs 105 crore has been provided towards Technology Centres, earlier known as Tool room and Tech institution, to train 1,99,500 individuals and assist 40,000 units.

The Output Outcome framework of schemes for 2017-18 has made a provision of Rs 451 crore towards the Credit Linked Capital Subsidy Scheme (CLCSS), which will benefit 6,700 micro and small enterprises.

The MSME cluster development programme (CDP) has been allocated Rs 184 crore, to enhance the competitiveness of industrial clusters with improvement in production, turnover and profitability of units over a period of two years. 

Khadi has been allocated a whopping Rs 340 crore towards setting up of Khadi plazas and Modified Market Development Assistance scheme in the Budget.

The provision made in the Output Outcome framework of schemes for 2017-18 will help increase the wages of artisans and benefit 1,500 Khadi institutions. Out of the Rs 340 crore, Rs 15 crore has been earmarked for setting up five Khadi plazas.