New Delhi, Feb 8 (KNN) The Ministry of Micro, Small and Medium Enterprises (MoMSME) in consultation with other ministries is examining the report on formulation of a National MSME Policy, Union MSME Minister Kalraj Mishra has said.

While talking to media on Tuesday, the Minister said the country will soon have a comprehensive policy for MSMEs.

A one-member panel of former Cabinet Secretary Prabhat Kumar was formulating the National MSME Policy. Kumar recently submitted the draft policy to the MSME.

 "The panel has submitted its report to us. We are currently examining it in consultation with other ministries and will soon put it out in the public domain seeking stakeholders' views," the MSME Minister told reporters.

He said the policy will be unveiled soon.

On Budget Allocation, Mishra said the MSME Ministry has been allocated funds to the tune of Rs 6,482 crore in the Budget, an 87 per cent increase over the previous fiscal's Budget estimate.

Mishra, while talking informally to media persons, thanked PM Modi and FM Jaitley for making highest ever allocation to the Ministry after its creation in the year 2007.

As against budget of Rs. 3465 crore, approximately Rs.2500 crore have been utilized in first three quarters.

Keeping in view the enhanced pace of utilization and to meet the growing credit needs of MSEs, the Ministry has been allocated additional resources of Rs. 5463 crore in the current year and Rs. 6482 crore in financial year 2017-18, Mishra said.

Mishra also pointed that the corpus of the Credit Guarantee Trust Fund currently stands at Rs 7,500 crore after fresh allocation of Rs 5,000 crore, as against Rs 2,500 crore earlier.

Incidentally, Non-Banking Finance Companies are also getting covered under Credit Guarantee Scheme for the first time since its inception, he said.

 He pointed out that 27 lakh units have benefited from the fund whereas loans worth Rs 1,23,000 crore have been disbursed by banks.

On road map of the Ministry, Mishra hoped that 9 Technology Centres will be completed by the end of the financial year 2017-18.

The work on 5 centres at Bhiwadi, Rohtak, Bengaluru. Durg and Vizag have already been awarded while work on Sitarganj, Puducherry, Baddi and Greater Noida will be awarded very shortly.

 He stated that SFURTI and ASPIRE will also pick up during 2017-18. 25 SFURTI Clusters and 30 ASPIRE Livelihood Business Incubators are getting commissioned by March, 2017.

He also talked of Finance Facilitation Councils which have been opened by NSIC at Ludhiana, Jalandhar, Guwahati, Bengaluru, Hyderabad, Chennai, Jaipur and launching of schemes by the PM in Ludhiana.

Mishra further stated that Corrective Action Plan Committees have been constituted by the banks under the framework for revival and rehabilitation of MSMEs. More than 9000 cases are now before these Committees for further action in the matter. He also stated that a portal for Micro and Small Enterprises Facilitation Council will be launched by him shortly. (KNN Bureau)