The year has been too busy in terms of policy-makers, given the thrust of the government to the backbone of Indian economy – Micro, Small and Medium Enterprises sector.

MSMEs have emerged as a highly vibrant and dynamic sector of Indian economy over the last five decades. MSMEs not only play a crucial role in providing large employment opportunities at comparatively lower capital cost than large industries, but also help in industrialisation of rural and backward areas, thereby reducing regional imbalances, assuring more equitable distribution of national income and wealth.

Most small businesses in India are setup by first generation entrepreneurs. They often have a product or service idea and a great zest to work hard. However, capital access, brand promotion solutions, marketing support, logistics and sales support, and ICT support stall the zeal to take an enterprise to the next level. So here’s a list of initiatives and achievements by the government to boost the spirit of entrepreneurship in Independent India, as of 2016-17:

Firsts

MSME segregated for the 1st time for benefit in Union Budget; Corporate tax lowered for MSMEs having a turnover of less than Rs 50 crore
First time formation of cadre Service IEDS, Indian Enterprises Development Service
First time utilisation of Rs 3,654 crore on MSMEs from allocated Budget
ZED QCI scheme launched to assist 22,222 units for ZED rating
Seven online Finance Facilitation Centres (FFCs) set up by NSIC
MSMEIGMS and MSME Data Bank launched
Special Technology Centres sanctioned for Dimapur (Nagaland) Agartala (Tripura) and Tinsukia (Assam)
National SC/ST Hub launched and more than 10,591 SC/ST enterprises registered on MSME Data Bank

Maximums

Maximum fund utilization of Rs 1280+ crore under PMEGP scheme since inception
Maximum budget provision for MSMEs
Highest ever amount (Rs 715 crore) given to CGTMSE in 2016-17
A record number of Review Committee meetings held to monitor public procurement by CPSUs
Under Cluster Development Programme, a record amount of 122 crore spent; 5 Common Facility Centres & 5 Industrial Centres completed
Export of coir and coir products expected to touch a record export figure of more than Rs. 2,000 crore
Ni-MSME conducted a record number of 34 domestic & international training programmes – becomes a recognized institute for training of GST
NSIC provided raw material assistance of more than 11 lakh tones – a record in quantity terms

Upcomings

Under CDP, 6 CFC to be commissioned & 6 new Industrial Estates to be upgraded
Under MMDA, 1500 Khadi Institutions to be benefitted with outlay of Rs 325 crore
More than 2 lakh persons to be trained through existing 18 Tech Centres
3125 units are targeted to be rated under Performance & Credit Rating Scheme
NIMSME will become core agency for training of MSMEs for GST
Awareness programme will be conducted by MSMEDIs
Another 55 courses would be made NSQF compliant
Work on all 13 Tech Centres will be in operation in 2017-18
Under CDP, 6 CFC to b commissioned & 6 new Industrial Estates to be upgraded

Achievements of 2016-17

52,912 enterprises set up in 2016-17
Under CLCSS, 4,011 MSEs benefited and subsidy of Rs 257 crore disbursed
16,200 enterprises assisted under Performance & Credit Rating Scheme (PCRS)
Forward of Revival & Rehabilitation of MSMEs operationalised, and 41000+ cases referred – approximately 30,000 cases resolved by Committee
Work on 8 new Technology Centres started at Bhiwadi, Durg, Rohtak, Baddi, Sitarganj, Pudi, Puducherry and Bangalore
30 Livelihood Business Incubation Centres setup under ASPIRE
MSME Ministry’s working made transparent, online & stakeholder friendly
Upgradation work of Technology Centre at Bhubaneshwar started
Under CLCSS, 4,011 MSEs benefited & subsidy of Rs 257 crore disbursed
More than 1,49,000 youths trained through existing 18 Technology Centres
54 training programmes got NSQF compliance
Khadi certification regulation made online & MMDA grant distributed to the institutions as well as to the artisans online on DBT
For addressing delayed funds issues, MSEFC cases brought on portal
PMEGP, SFURTI, ASPIRE, CLCSS and other Schemes made online
Credit guarantee increased from Rs 1 crore to Rs 2 crore, even for NBFCs