Four lakh new micro enterprises to generate 32 lakh jobs
Updated: May 23, 2013 06:43:52pm
New Delhi, May 23 (KNN) To create employment opportunities for around 32 lakh unemployed youth, the Ministry of Micro, Small and Medium Enterprises (MSME) has set a target of four lakh new micro enterprises with an outlay of Rs 7,800 crore.
“In the 12th Five Year Plan under Prime Minister's Employment Generation Programme (PMEGP), a target of 4 lakh new micro enterprises has been fixed for creation of new employment opportunities for around 32 lakh persons mainly focusing on the unemployed youth throughout the country, with an outlay of Rs 7,800 crore,” said Minister of Micro, Small and Medium Enterprises (MSME) K H Muniyappa at a conference organized by the Confederation of Indian Industry (CII) here today.
Under PMEGP, more than 2.10 lakh new entrepreneurs have been assisted upto March 31, creating about 19.55 lakh employment opportunities across the country, having spent Rs 3973.05 crore.
Further, the ministry has set a target of training more than 42 lakh persons during the 12th plan. The training provided by the 10 state-of-the-art tool rooms and eight technology development centres has helped create good workforce.
“During the 12th plan, we plan to set up 15 more tool rooms and technology centres in different states,” he added.
Further, under scheme of fund for regeneration of traditional industries (SFURTI), the ministry plans to support about 800 clusters in the country.
The new public procurement policy mandates that 20 per cent of annual requirement of goods and services by all ministries will have to be procured from micro, small and medium enterprises.
Meanwhile, the Canara Bank, according to the minister is launching a new term loan for extending quasi equity (risk capital) assistance to MSMEs to meet the bonafide expenditure required for growth of business.
Further, the SME Exchange platform will enable MSMEs to raise funds and get listed as public entities. This will transform the means by which small and medium enterprises can have access to investor capital and create wealth for all the stakeholders. (KNN)
“In the 12th Five Year Plan under Prime Minister's Employment Generation Programme (PMEGP), a target of 4 lakh new micro enterprises has been fixed for creation of new employment opportunities for around 32 lakh persons mainly focusing on the unemployed youth throughout the country, with an outlay of Rs 7,800 crore,” said Minister of Micro, Small and Medium Enterprises (MSME) K H Muniyappa at a conference organized by the Confederation of Indian Industry (CII) here today.
Under PMEGP, more than 2.10 lakh new entrepreneurs have been assisted upto March 31, creating about 19.55 lakh employment opportunities across the country, having spent Rs 3973.05 crore.
Further, the ministry has set a target of training more than 42 lakh persons during the 12th plan. The training provided by the 10 state-of-the-art tool rooms and eight technology development centres has helped create good workforce.
“During the 12th plan, we plan to set up 15 more tool rooms and technology centres in different states,” he added.
Further, under scheme of fund for regeneration of traditional industries (SFURTI), the ministry plans to support about 800 clusters in the country.
The new public procurement policy mandates that 20 per cent of annual requirement of goods and services by all ministries will have to be procured from micro, small and medium enterprises.
Meanwhile, the Canara Bank, according to the minister is launching a new term loan for extending quasi equity (risk capital) assistance to MSMEs to meet the bonafide expenditure required for growth of business.
Further, the SME Exchange platform will enable MSMEs to raise funds and get listed as public entities. This will transform the means by which small and medium enterprises can have access to investor capital and create wealth for all the stakeholders. (KNN)
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