MSME stands for Micro, Small and Medium Enterprises. MSME contributes 8 % of country’s GDP. Nearly 60 Million people are employed through MSMEs. In India, the youth is energized with intellectual capabilities.India needs to promote better business climate to take advantage of youth age factor. The Indian government has already initiated taking steps providing subsidies and incentives to promote business as a career option rather than job career. Entrepreneurs are assisted from various ministries for a stable beginning. What government aims is to provide MSME Schemes under one roof. Entrepreneurs should be provided with full information so as to receive maximum benefits of subsidies. This would enhance productivity, expansion, modernization.
SME Division scheme for providing financial assistance on international cooperation.
Prime minister’s Employment Generation Programme provides financial assistance to micro enterprises costing up to Rs. 10 Lakh in the service sector and Rs. 25 Lakh in the manufacturing sector.This assistance is availed in the form of subsidy.
Promotional Package includes credit and fiscal support, infrastructure, technology, and marketing support. It also provides support to women entrepreneurs.
Moreover, financial assistance up to Rs. 10 Lakh for copier, computers, travel expenses etc. is provided to strengthen the role of MSMEs. The Indian government is making every step possible to enhance the awareness regarding its schemes throughout the nation.
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