PM Launched Historic Support And Outreach Initiative For MSME Sector


The Prime Minister Narendra Modi launched a historic support and outreach programme for the Micro, Small and Medium Enterprises (MSME) sector. As part of this programme, the Prime Minister unveiled12 key initiatives which will help the growth, expansion and facilitation of MSMEs across the country.

The 12 decisions that he is announced will mark a new chapter for the MSME sector. The OM mentioned the rise in India’s “Ease of Doing Business Rankings,” from 142 to 77 in four years. There are five key aspects for facilitating the MSME sector. These include 1. access to credit, 2. access to market, 3. technology upgradation, 4. ease of doing business, and 5. a sense of security for employees.

Key Highlights:

  • PM unveils 12 key initiatives
  • Rs 1 cr loan in 59 minutes loan portal to enable easy access to credit for MSMEs
  • Mandatory 25 percent procurement from MSMEs by CPSEs
  • Ordinance for simplifying procedures for minor offences under Companies Act.

Source- Press Information Bureau (PIB)

Static/Current Takeaways Important For IBPS PO Mains Exam 2018:

  • Giriraj Singh is the present MSME Minister of India.

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