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MSME-an introduction of 12 schemes

Sandeep Rawat
Government Unveils 12 Schemes for MSMEs: Streamlined Loans, Export Rebates, and Mandatory Invoice Uploads for Large Companies The article outlines 12 government schemes announced for Micro, Small, and Medium Enterprises (MSMEs). Key initiatives include a streamlined loan process, increased interest rebates for exports, mandatory invoice uploads by large companies for MSME receivables, and procurement mandates for public sector units (PSUs) to source from MSMEs, including a specific percentage from women-owned businesses. Additional measures involve significant investments in technology training, reduced compliance burdens, and amendments to the Companies Act to alleviate penalties for minor violations. These efforts aim to enhance MSME support, streamline operations, and foster growth within the sector. (AI Summary)

*PM announce 12 schemes for MSME*

1.   Loan upto 1 cr within 59 minute through online portal.
2.   Interest rebate of 2 % and for export to be increased from 3% to 5%.
3.   All PSUs and company above 500 cr turnover to upload all supply invoices on TRADES platform which will count MSME Receivables against which banks give bill discounting facilities. Online complaint portal for MSME invoice payment delay.
4.   All PSUs to buy 25% from MSME
5.   PSU to buy 3% from woman MSME
6.   All CPSU to buy through Govt. GEM Purchase portal.
7.   6000 crs for 100 technology training and upgrade centre for MSME. 
8.   70 clusters for pharma MSME. 75 % cost by central govt.
9.   8 labour laws returns only twice in year.
10.  Factory inspector visit assignment through random computerise selection and online reporting within 48 hours.
11.  Environment clearance based on self certification for MSME. Common for air and water clearance.  Only 10% inspection.
12.  Companies Act amendment ordinance removing harsh punishments of jails etc. small violations. 60% pending cases will be out through this amendments.

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