MSME Growth to be New Mantra of Govt | President Pranab Mukherjee

President Pranab Mukherjee has indicated MSME development, which has large-scale job creation potential, will be the new mantra of the Prime Minister Narendra Modi Government which presents its second full budget on February 29.

In his address to the joint sitting of Parliament, Mukherjee said Modi government has decided to set up rural livelihood and technology business incubators to boost entrepreneurship in the agriculture and rural sector.

The Start-up Village Entrepreneurship Programme will be a new vertical to strengthen the livelihoods of artisans and weavers, he said in his over hour long speech that outlined the government’s agenda, including economic, this year.

The budget session of Parliament, which is the first session in the new year, begins with Presidential address to the members of both the houses of Parliament, Lok Sabha and Rajya Sabha.

Micro, Small and Medium Enterprises provide large-scale employment, Mukherjee said emphasizing  banks have cumulatively disbursed over Rupees one lakh crore to more than 2.6 crore borrowers under the PM’sMudraYojana, of which 2.07 crore are women entrepreneurs.

UdyogAadhar Portal has been set up to facilitate online registration of MSMEs, he added.

Under the Start-Up village Entrepreneurship Programme, about 1.82 lakh village enterprises will be created in the first phase. Government would also strengthen this programme in 125 Blocks across 24 States creating employment for about 3.78 lakh persons, he said.

To strengthen the employment intensive segments of textile industry, he said Government has launched an Amended Technology Upgradation Fund Scheme with an allocation of about Rupees eighteen thousand crore over a 7 year period.

Mukherjee said series of reforms have been initiated to help convert job seekers into job creators, a phrase often used by Modi.

Government has launched the Start-Up India campaign which would deepen, expand and support the innovation eco system in the country, he said.

“My Government’s mission of skilling India has gained momentum and during the last year about 76 lakh people have been trained,” he said.