Hotline: 1800 102 2007
X
Search Business Opportunities
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.

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
  • Juices / Smoothies / Dairy parlors
    About Us: The Juice Art, a venture of Sonaya Foodworks, is..
    Locations looking for expansion Delhi
    Establishment year 1982
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: Euro India Fresh Foods Ltd is a ISO 22000:2005..
    Locations looking for expansion Gujarat
    Establishment year 2009
    Franchising Launch Date 2018
    Investment size Rs. 10000 - 50 K
    Space required 400
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater Ahmedabad Gujarat
  • Tea and Coffee Chain
    About: The Tea Junction operates 25 outlets in the lovely city..
    Locations looking for expansion West bengal
    Establishment year 2004
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Saltlake West bengal
  • Others Food Service
    About: Desi Farms was incorporated in the year 2016. We are..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
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