Investment in SME

Investment in SME

To encourage investment in micro, small and medium enterprises (MSMEs) in the country, the Government is implementing a number of schemes and programmes namely, Prime Minister Employment Generation Programme (PMEGP), Rajiv Gandhi Udyami Mitra Yojana (RGUMY), Credit Guarantee Scheme, Support for Entrepreneurial and Managerial Development of MSMEs through Incubators, Trade Related Entrepreneurship Assistance and Development (TREAD) scheme, Scheme for Micro Finance Programme etc. In addition, as a follow up of the recommendations of the Prime Minister’s Task Force on MSMEs, the Reserve Bank of India (RBI) has advised the banks to achieve a 20 per cent year-on-year growth in credit to micro and small enterprises and a 10 per cent annual growth in the number of micro enterprise accounts. Further, the Reserve Bank of India (RBI) has issued guidelines to all scheduled commercial banks to provide for a time frame for disposal of loan applications and to provide collateral free loan to MSEs with the upper limit of Rs. 10 lakh. The schemes and programmes of the Ministry of MSME are implemented nation-wide and not region or state specific. As such, the above mentioned schemes/programmes for investment promotion are equally applicable to the State of West Bengal & Sikkim. This information was given by the Union Cabinet Minister for Micro, Small and Medium Enterprises, Shri Virbhadra Singh in a written reply to a question in the Lok Sabha toda