Finance Minister Nirmala Sitharaman has introduced several MSME schemes to boost small businesses in India.
MSMEs have struggled to get loans over the years.
Because of which the finance minister told the banks not to consider MSMEs as non-performing assets.
The Finance minister also has doubled the loans from INR 10 Lakh to INR 20 Lakh.
Here are the schemes that the Finance Minister has introduced:
Scheme for Promotion of Innovation, Rural Industry and Entrepreneurship
This scheme will help in developing 75,000 skilled entrepreneurs in agro-rural industry sectors.
Scheme of Fund for Upgradation and Regeneration of Traditional Industries
To enable over 50,000 artisans from Bamboo, Honey and Khadi industries to join the economic value chain.
Retail Pension Benefit Scheme for Traders and Shopkeepers
Under this scheme, all the shopkeepers, retail traders, and self-employed will get a monthly pension of Rs. 3,000 after the age of 60.
If a person contributes Rs. 100 per month, the government will also contribute with the equal amount as subsidy into the pension account of the subscriber every month.
If there is any loan requirement for your MSME, contact Gromor Finance for all your loan needs!