Sign In
Learn bits
Economy, Schemes & Policies
Mahesh

31/03/22 06:42 AM IST

RAMP Scheme

In News 
  • The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi,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.
  • RAMP was formulated and proposed by the Government of India, for strengthening MSMEs in line with the recommendations made by U K Sinha Committee, KV Kamath Committee and Economic Advisory Council to the Prime Minister (PMEAC).
About RAMP Scheme 
  • 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).
  • 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 of MSMEs.
  • In addition to building the MoMSME’s capacity at the national level, the RAMP program will seek to scale up implementation capacity and MSME coverage in  States. 
  • RAMP programme, through enhanced collaboration with States, will be a job-enabler, market promoter, finance facilitator, and will support vulnerable sections and greening initiatives.
  • In States where the presence of MSMEs is on the lower side, the programme will usher in larger formalization resulting from the higher impact of the schemes covered under RAMP. 
  • The programme will bolster the inadequately addressed blocks of capacity building, handholding, skill development, quality enrichment, technological upgradation, digitization, outreach and marketing promotion, amongst other things.
Features of the scheme 
  • ’Policy Provider’’ through the enhanced capacity for evidence-based policy and program design, to enable the delivery of more effective and cost-efficient MSME interventions to improve competitiveness and business sustainability.
  • “Knowledge Provider” through bench-marking, sharing and demonstrating best practices/success stories by leveraging international experiences, and
  • “Technology Provider” providing access to high-end technology resulting in the digital and technological transformation of MSMEs through state of art Artificial Intelligence, Data Analytics, Internet of things (IoT), Machine Learning etc.
  • RAMP programme with impacts across the country will directly or indirectly benefit all 63 million enterprises that qualify as MSMEs.
Source-PIB

More Related Current Affairs View All

22 Aug

Uttarakhand State Authority for Minority Education (USAME) Bill, 2025

'The Uttarakhand Assembly on Wednesday passed the Minority Education Bill, 2025, extending minority status benefits to institutions run by the Sikh, Jain, Buddhist, Christian, and

Read More

22 Aug

India needs a national space law urgently

'A nation with a strong base in science and technology is a nation with a strong backbone” — these words of A.P.J. Abdul Kalam ring truer than before as India celebrate

Read More

22 Aug

Organ transplantation

'The National Organ and Tissue Transplant Organisation (NOTTO) recently issued a direction stating that women patients and relatives of deceased donors will receive priority in org

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps