Prime Minister Modi on Thursday assured the micro, small and medium enterprises sector that the government is ready to take necessary steps to encourage small entrepreneurs.
New Delhi: The central government is continuously taking better steps for small businessmen. In this episode, Prime Minister Narendra Modi on Thursday assured the Micro, Small and Medium Enterprises (MSME) sector that the government is ready to take necessary steps to encourage small entrepreneurs. He is also playing an important role in the government's 'Self-reliant India initiative'.
'MSME essential for self-reliant India'
Addressing the 'Entrepreneur India' program, the Prime Minister also asked small entrepreneurs to register on the GeM (Government e-Marketplace) portal, a government procurement platform, for supply of goods to the government. He said, 'MSME is necessary for self-reliant India. The MSME sector has played a big role in shaping a self-reliant India in the last eight years.
Budget increased by more than 650 percent in eight years
Modi said, 'I want one crore new registrations to be done on GeM portal next week.' He said that the government has increased the budget by more than 650 percent in the last eight years to strengthen the MSME sector. The Prime Minister said that if any industry wants to grow, expand, then the government is not only supporting it but is also bringing necessary changes in the policies.
Khadi and Village Industries business crosses one lakh crore
PM Modi also said that the business of Khadi and Village Industries has crossed one lakh crore for the first time, Khadi sales have increased four times in the last eight years. Earlier, Modi launched the Rs 6,000 crore scheme 'Ramp' (Raising and Accelerating MSME Performance) to enhance and accelerate the performance of MSMEs. Also, he launched the scheme of 'Capacity Building of MSME Exporters for the First Time Exporting (CBFTE)' to encourage export of goods and services.
He also introduced new features of the Prime Minister's Employment Generation Program (PMEGP). This includes raising the maximum project cost from Rs 25 lakh to Rs 50 lakh for the manufacturing sector and from Rs 10 lakh to Rs 20 lakh in the service sector.