Government Launches New Scheme To Help The MSME Business On MSME Day

27 June 2024 celebrates the MSME Day where government launches Rs. 277 Crores Scheme to boost MSME business. The scheme will focus on promoting the MSME to get registered on ONDC. It is a platform based on the open protocol and helps in promoting local commerce. This campaign is special as it will help in providing equal opportunity to women-led businesses as well. The scheme will provide a Yashasvini campaign for women-led units. Let us discuss its benefits below.

What Is The New Rs. 277 Crores Scheme For MSME?

The government and minister of MSME launches a new scheme for the betterment of the MSMEs. It focuses on assisting up to 5 Lakh MSEs in the next three years. According to the sources, Women will be in focus in the schemes. Thus, 50% will be for women-led businesses. The new scheme focuses on helping the MSEs to establish themselves in the e-commerce world. It will help the MSEs to register on ONDC (Open Network For Digital Commerce). Minister Jitan Ram Manjhi announces the scheme on Thursday on the occasion of MSME Day 2024.

There are a lot of challenges that MSME faces for the registration on e-commerce. While many believe that they won’t be able to do better in the digital world. Thus, the support will help the company in the introduction to the e-commerce world. Apart from that, the government will also provide subsidies to the MSMEs for transportation and logistics. It will support 50% of its fund into women-led businesses. The women are entering the business every day. It will help empower women and create equality.

The scheme was launched under the World Bank-supported RAM Programme. While under the Yashasvini Campaign, the government will help 1 lakh women in the funding focusing on the business in the smaller cities. To conclude, the MSME Rs. 277 Crore Scheme will benefit the 5 lakh MSMEs. Where it will also conduct the Yashasvini Campaign to support women entrepreneurs. They will focus on supporting 1 lakh women from the smaller cities.

MSME’s new scheme will help small businesses from tier 3 cities to get access to the e-commerce platforms. They often feel hesitation in coming to these platforms as they don’t feel like they have adequate resources to be on that platform or due to other reasons. However, these schemes support these MSMEs and boost their morale with positive reinforcement. MSME is among the leading sectors in the economy contributing to the maximum percentage of GDP. Stay tuned for more information on our website.