RAMP
SCHEME - ECONOMY
News:
Govt making necessary
policy changes to encourage MSME sector: PM Modi
What's
in the news?
●
Prime Minister Narendra Modi assured the
MSME sector that the centre is ready to make necessary policy changes to
encourage small entrepreneurs as they are playing a key role in the
‘AatmaNirbhar Bharat’ (self-reliant) initiative of the government.
Key
takeaways:
●
Addressing the ‘Udyami Bharat’ programme,
the Prime Minister exhorted small entrepreneurs to register themselves on the
GEM portal for supplying goods to the government.
Raising
and Accelerating MSME Performance (RAMP) Scheme:
●
It is a World Bank assisted Central Sector Scheme, supporting various
Corona Virus Disease 2019 (COVID) Resilience and Recovery interventions of the
Ministry of Micro, Small and Medium Enterprises (MoMSME).
Aim:
●
The programme aims at improving access to market and credit, strengthening institutions
and governance at the Centre and State, improving Centre-State linkages and
partnerships, addressing issues of delayed payments and greening of MSMEs.
Objectives:
●
Strengthening coordination and
institutions at the National and State level.
●
Building and integrating technology
platforms.
●
Enhancing firm capabilities and access to
markets.
●
Strengthening the receivables financing
markets.
●
Enhancing guarantee products towards
increased greening and gender participation.
●
Expanding access to Online Dispute
Resolution Mechanism (ODR).
Funding:
●
Funds would flow through RAMP into the
Ministry’s budget against Disbursement Linked Indicators (DLIs) to support
ongoing MoMSME programmes, focusing on improving market access and
competitiveness.