2013-04-03

MSME Min. working on “special package” to boost sector: Muniyappa

The Micro, Small and Medium Enterprises (MSME) Ministry is working on a “special package” to give a boost to the sector hit by the economic slowdown.

MSME Min. working on “special package” to boost sector: Muniyappa

The Micro, Small and Medium Enterprises (MSME) Ministry is working on a “special package” to give a boost to the sector hit by the economic slowdown.

MSME Minister, K H Muniyappa at a press conference on Tuesday said, "The contribution of MSMEs to overall exports has declined to 36 per cent from 40 per cent earlier owing to less demand from domestic as well as global markets." 

"I have asked officials of my ministry to work on a special package which I will then take to the Cabinet for their consideration and guidance," he said.

This would help set up more micro and small units in the country which will generate more employment opportunities, he added. Besides providing sops, the package would address other issues like cumbersome inspection process and difficulties in getting environmental clearances.

Muniyappa said that overall, these sops would help the sector grow. We hope that MSMEs contribution to exports will move above 40 per cent in the next few years.

In the 12th Five-Year Plan, the Budget allocation for the sector has been more than doubled to Rs 24,000 crore from Rs 11,000 crore in the last plan period, the minister added.

Muniyappa whiletalking about encouraging youths, said, "We have decided to set up 100 new enterprises in every district of the country every year under the Prime Minister's Employment Generation Programme (PMEGP)." 

Under the PMEGP, urban and rural entrepreneurs in the general category can avail a subsidy of 15 per cent and 25 per cent on the project cost. In the case of weaker sections of society, a 25 per cent and 35 per cent subsidy is provided to urban and rural businessmen.

Related opportunities
  • Career Counselling & Brain Programming
    FA Academy journey started in 2014 in Hosur, Tamil Nadu..
    Locations looking for expansion Tamil nadu
    Establishment year 2014
    Franchising Launch Date 2023
    Investment size Rs. 10lakh - 20lakh
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Hosur Tamil nadu
  • Gems And Stones
    Khanna Gems is a vertically integrated organization focused completely on..
    Locations looking for expansion Delhi
    Establishment year 1987
    Franchising Launch Date 2020
    Investment size Rs. 30lakh - 50lakh
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Others Clothing
    SHYOR, a D2C brand specializing in anti-radiation solutions, emerges from..
    Locations looking for expansion Delhi
    Establishment year 2023
    Franchising Launch Date 2024
    Investment size Rs. 2lakh - 5lakh
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Packaged Food Products
    About Us: The Great ones are the Nature Lovers!!!! Our hundred years..
    Locations looking for expansion Tamil nadu
    Establishment year 2018
    Franchising Launch Date 2016
    Investment size
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater Dindigul Tamil nadu
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads