3 MSME SUB-SCHEMES UNDER THE RAMP PROGRAMME

3 MSME SUB-SCHEMES UNDER THE RAMP PROGRAMME

22-12-2023

Context

Recently, Central government unveiled three sub-schemes under the Rising and Accelerating MSME Performance (RAMP) program, Shri Narayan Rane, the Union Minister for MSME.

About the 3 Sub-Schemes:

  1. MSE Green Investment and Financing for Transformation Scheme (MSE GIFT):

Aims to assist MSMEs in embracing eco-friendly technology through interest subvention and credit guarantee support.

  1. MSE Scheme for Promotion and Investment in Circular Economy (MSE SPICE):

The government has introduced its inaugural program to back circular economy projects through credit subsidies. This initiative aligns with the MSME sector's goal of achieving zero emissions by 2070.

  1. MSE Scheme for Online Dispute Resolution for Delayed Payments [MSE ODR]:

A new program, the first of its kind, combines legal support with modern technology and Artificial Intelligence to tackle delays in payments for Micro and Small Enterprises.

New Initiatives under Existing Schemes

  1. MSME Support for Commercialisation of IP Programme (MSME – SCIP)

To support small business inventors so that they can turn their ideas into products and make money from their intellectual property.

  1. Zero Defect, Zero Effect (ZED) Scheme

It aims to encourage and support MSMEs to adopt practices that result in products with zero defects and minimal environmental impact. Now, women-led MSMEs can use it for free.

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