The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a USD 808 million or Rs 6,062.45 crore, World Bank assisted programme on “Raising and Accelerating MSME Performance” (RAMP).
RAMP is a new scheme and would commence in FY 2022-23.
The total outlay for the scheme is Rs 6,062.45 crore or USD 808 Million, out of which Rs 3750 crore or USD 500 Million would be a loan from the World Bank and the remaining Rs 2312.45 crore or USD 308 Million would be funded by the Government of India (GoI).
RAMP is a World Bank assisted Central Sector Scheme, supporting various Corona Virus Disease Resilience and Recovery Interventions of the Ministry of ‘Micro, Small and Medium Enterprises (MSME).
The programme aims at improving access to market and credit, strengthening institutions and governance at the Centre and State, improving Centre-State linkages and partnerships, addressing issues of delayed payments and greening MSMEs.
In addition to building the Ministry’s capacity at the national level, the RAMP program will seek to scale up implementation capacity and MSME coverage in States.