The provision made in the Output Outcome framework of schemes for 2017-18 will help increase the wages of artisans and benefit 1,500 Khadi institutions. Out of the Rs 340 crore, Rs 15 crore has been earmarked for setting up five Khadi plazas.
A major chunk of the Rs 6,481.96 crore allocated to the Ministry of Micro, Small and Medium Enterprises has been provided to the Credit Guarantee Scheme (Rs 3,002 crore). The funds will help support 4,68,000 credit proposals while approving a credit guarantee to the tune of Rs 17,955 crore.
The Credit Guarantee Scheme (CGS) seeks to reassure the lender that, in the event of a MSE unit, which availed collateral-free credit facilities, fails to discharge its liabilities to the lender, the Guarantee Trust would make good the loss incurred by the lender up to 50/75/80/85 per cent of the credit facility.
Besides, a sum of Rs 1,024.49 crore has been earmarked towards the Prime Minister’s Employment Generation Programme (PMEGP), for setting up 56,500 micro units and employing 4.52 lakh persons.
To improve the employability of trained individuals and enhance job prospects, Rs 105 crore has been provided towards Technology Centres, earlier known as Tool room and Tech institution, to train 1,99,500 individuals and assist 40,000 units.
The Output Outcome framework of schemes for 2017-18 has made a provision of Rs 451 crore towards the Credit Linked Capital Subsidy Scheme (CLCSS), which will benefit 6,700 micro and small enterprises. It will also help improve the productivity and product quality and increase the sales turnover of beneficiary units.
The MSME Cluster Development Programme (CDP) has been allocated Rs 184 crore, to enhance the competitiveness of industrial clusters with improvement in production, turnover and profitability of units over a period of two years.
Source: India.com
Image Courtesy: kvic.org.in