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Government Schemes

Government Schemes for SMEs

Bhavesh Kothari
Jun 2009

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There are various schemes run by the Indian Government to boost the SME's in the country to help them become more innovative, efficient and competitive. The enactment of the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 was a landmark initiative taken by the Government of India to enable the SMEs' competitive strength, address the issues and challenges and reap the benefits of the global market. SME policy initiatives at the national and state level are aimed at strengthening the role of SMEs at the base as well as at the higher level.

The Tamil Nadu Government formulating an exclusive policy for micro, small and medium enterprises sector to encourage agro-based industries is a recent example of the changes taking place at the ground level. Some of the salient features of this policy include formation of multi-storied and flatted industrial estates for micro industries, liberal floor space index in plotted development of 1.5 to 1.75 for industrial sheds and 2.5 for multi-storied industrial units, 50% rebate on stamp duty and registration charges for micro and small enterprises in industrial estates and industrially backward areas.

The Ministry of Micro, Small and Medium Enterprises (MSME) is implementing the promotional schemes for the development of micro, small and medium enterprises. The schemes and programmes generally focus on capacity building in states and regions, nevertheless, there are a few schemes and programmes, which are individual beneficiary-oriented.

Some of the schemes are by The Ministry of Micro, Small and Medium Enterprises (MSME) are as below.

• Scheme of Surveys, Studies and Policy Research

• Entrepreneurship Development Institution Scheme

• Scheme of Fund for Regeneration of Traditional Industries (SFURTI)

• Rajiv Gandhi Udyami Mitra Yojana (RGUMY)

• Marketing Assistance Scheme (Implemented through NSIC)

• Performance and Credit Rating Scheme (Implemented through NSIC)

• Prime Minister's Employment Generation Programme (PMEGP) (Implemented through KVIC)

• Product Development, Design Intervention and Packaging (PRODIP) (Implemented through KVIC)

• Khadi Karigar Janashree Bima Yojana for Khadi Artisans (Implemented through KVIC)

• Interest Subsidy Eligibility Certification (ISEC).

While there are no specific reservations for women, in the latter, there are some oncessions/incentives available under these programmes for the benefit of women entrepreneurs. In respect of entrepreneurship/skill development training programmes, under the National Awards for Entrepreneurial Development (Quality Products) and Trade Related Entrepreneurship Assistance and Development (TREAD) Programme for women, the necessary guidelines have been issued and specific reservation provided for women. Similarly, under two employment generation programmes being implemented by the Ministry like Rural Employment Generation Programme (REGP) and Prime Minister's Rozgar Yojana (PMRY), some concessions have been provided for women beneficiaries. Besides, the Coir Board is implementing the Mahila Coir Yojana, which is a women oriented self-employment programme.

Schemes

There are certain schemes which National Small Industries Corporation carries forward to assist small enterprises with a set of specially tailored schemes designed to put them in a competitive and advantageous position. The schemes comprise of bank credit facilitation, Export credit Insurance, SME Credit Rating, Bill discounting schemes, Government stores purchase programme, infomediary services, facilitating marketing support, technology support and other support services.

Besides these schemes, the Government of India also runs a International Cooperation Scheme for Technology infusion and/or upgradation of Indian MSMEs, their modernisation and promotion of their exports are the principal objectives of assistance under the International Cooperation Scheme.

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