Schemes for MSME

PM VIshwakarma KAushal Samman (PM VIKAS)

For centuries, traditional artisans and craftspeople, who work with their hands using tools, have brought renown for India. They are generally referred to as Vishwakarma. The art and handicraft created by them represents the true spirit of Atmanirbhar Bharat. For the first time, a package of assistance for them has been conceptualized. The new scheme will enable them to improve the quality, scale and reach of their products, integrating them with the MSME value chain. The components of the scheme will include not only financial support but also access to advanced skill training, knowledge of modern digital techniques and efficient green technologies, brand promotion, linkage with local and global markets, digital payments, and social security. This will greatly benefit the Scheduled Castes, Scheduled Tribes, OBCs, women and people belonging to the weaker sections.  

Impelementation agency : M/o Micro, Small and Medium Enterprises 

Subscheme of PM Matsya Sampada Yojana

A new subscheme of PM Matsya Sampada Yojana with targeted investment of ₹6,000 crore to further enable activities of fishermen, fish vendors, and micro & small enterprises, improve value chain efficiencies, and expand the market. 

Impelementation agency : D/o Fisheries 

Vivad se Vishwas I – Relief for MSMEs

In cases of failure by MSMEs to execute contracts during the Covid period, 95 per cent of the forfeited amount relating to bid or performance security will be returned to them by government and government undertakings.  This will provide relief to MSMEs.  

Impelementation agency : D/o Expenditure 

Entity DigiLocker

An Entity DigiLocker will be set up for use by MSMEs, large business and charitable trusts. This will be towards storing and sharing documents online securely, whenever needed, with various authorities, regulators, banks and other business entities.  

Impelementation agency : M/o Electronics and Information Technology ; M/o Micro, Small and Medium Enterprises 

Skill India Digital Platform

The digital ecosystem for skilling will be further expanded with the launch of a unified Skill India Digital platform for: 

• enabling demandbased formal skilling,
• linking with employers including MSMEs, and 
• facilitating access to entrepreneurship schemes.  

Impelementation agency : M/o Skill Development and Entrepreneurship 

Credit Guarantee for MSMEs

The revamped credit guarantee scheme for MSMEs will take effect from 1st April 2023 through infusion of ₹9,000 crore in the corpus. This will enable additional collateral-free guaranteed credit of ₹2 lakh crore. Further, the cost of the credit will be reduced by about 1 per cent.  

Impelementation agency : M/o Micro, Small and Medium Enterprises 

Source : India Budget