Scheme
MSE SPICE
As part of national commitment to sustainable development, Ministry of Micro Small & Medium Enterprises (MoMSME) has formulated MSE-SPICE scheme to promate Circular Economy (CE) and incentivize MSEs to adopt CE in the sector with a focus on notified regulations such as Plastic, Rubber and Electronics Waste Management etc. It will enable MSE units to comply with Extended Producers Responsibilty (EPR) and Waste Recycling targets set for industries SIDBI has been designated as the implementing agency of the scheme
The scheme aims to provide capital subsidy to brownfield Project by MSEs for upgradinglexpanding the existing CE projects for promoting facilitating CE principles. The maximum project cost admissible under the Scheme would be Rs.50 lakh with a 25% subsidy on the cost of Plant and Machinery only. However, projects coating mors tran Pos 50 Lakh would also be admissible under the Scheme, but subsidy shall be limited to a maximum of Rs. 12.5 Lakis
At the covel eranating frott select 11 sectors (mentarned in the appendix), would be eligible for coverage, subject to approval of Technical Working Group at the MoMSME
Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) is jointly set up by Ministry of Micro, Small & Medium Enterprises (MSME), Government of India and Small Industries Development Bank of India (SIDBI) to catalyse flow of institutional credit to Micro & Small Enterprises (MSEs). Credit Guarantee Scheme (CGS) was launched to strengthen credit delivery system and to facilitate flow of credit to the MSE sector, create access to finance for unserved, under-served and underprivileged, making availability of finance from conventional lenders to new generation entrepreneurs. Over the past 22 years, CGTMSE has been instrumental in providing guarantee cover to collateral and/or third party guarantee free credit facilities extended by eligible Member Lending Institution [MLIs] to MSEs.
CGTMSE has created a new landmark by touching the milestone figure of approving guarantees worth `1 lakh crore during FY 2022 - 23. This financial achievement has been an outcome of various key initiative implemented during the financial year.
CGTMSE with its untiring efforts and unflinching commitment to enable the economy to touch the landmark figure USD 5 Tn, as set out by the Hon’ble Prime Minister, coupled with several key initiatives, has assumed a greater role of the enabler in the financial eco-system and have fostered an entrepreneurial mindset across the nation.
Taking note of this achievement of CGTMSE, honourable Prime Minister while expressing his happiness, has rightly said, “We are betting on the entrepreneurial zeal of our youth to propel our economy to even greater heights.” In India’s journey of next economic superpower, guaranteeing loans worth `1 lakh Crore in a single FY may just be a new beginning for CGTMSE.
Entrepreneurship and Skill Development Programs(ESDP)
The Entrepreneurship and Skill Development Programme (ESDP) Scheme is a Central Sector continuing scheme, under O/o DC-MSME, M/o MSME. The objective of the programme is to motivate young persons (Men and Women) representing different sections of the society including SC/ST women, physically handicapped, Ex-servicemen, and BPL persons to consider self-employment or entrepreneurship as one of the career options. The ultimate objective is to promote new enterprises, build capacity of existing MSMEs and inculcate entrepreneurial culture in the country. In the present ESDP scheme guidelines that got approved on 25.3.2022.