Centre's ₹114cr fund boost for Raj MSMEs

Jaipur: The Centre has sanctioned Rs 114 crore to Rajasthan to support its MSMEs some of which are still struggling to overcome the challenges created by the Covid pandemic.

The fund under the Raising and Accelerating MSMEs’ Performance (RAMP) scheme would be spent on enhancing the capabilities and capacities of MSMEs with focus on improving access to finance, expanding market reach and technology interventions among others.

Interestingly, unlike other states which also contribute to the fund, Rajasthan will have no obligations to put in its share in the fund.

A senior official in the industries department said that the department is working on setting up a project monitoring unit to implement the project. “The benefits of the RAMP scheme include financial assistance, support for enhancing productivity and competitiveness, and access to markets and technology,” said the official. Also, the programme is designed to bolster the inadequately addressed blocks of capacity building, handholding, skill development, quality enrichment, technological upgradation, digitization, outreach, and marketing promotion, amongst other things, said the official. MSMEs also face hurdles of delayed payments. Through the scheme a digilat platform is being created to help MMEs to get payments as per schedule. tnn

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