Trade Hits: 1386

Cabinet approves 'World Bank Assisted Programme' for the MSMEs

Trade Hits: 1386
Cabinet approves 'World Bank Assisted Programme' for the MSMEs
Trade Hits: 1386

31 March 2022, Mumbai:

The Union Cabinet on Wednesday approved Rs 6,062 crore for World Bank assisted programme for the MSME sector, which is meant to improve their access to market and credit, address issues related to delayed payments, and greening of the sector apart from strengthening governance.

ALSO READ Tirupur exporters meet FM, urging to help SMEs

Raising and Accelerating MSME Performance (RAMP) scheme is to be implemented in the next financial year and is meant to address Covid-19 and generic challenges faced by the sector.

RELATED NEWS On the Udyam platform, over 66 lakh MSMEs have registered, with 95% of them being micro companies

MSMEs have been among the worst-hit segments of the economy during the pandemic period with several units shutting down due to payment and credit issues.

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CREDITS: TOI (The news article has not been edited by DFU Publications staff)

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