PM launches Support and Outreach Initiative for MSME sector | Daily Current Affairs 2021

PM launches Support and Outreach Initiative for MSME sector

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The Prime Minister Narendra Modi has launched the Union Government’s Support and Outreach Initiative for Micro, Small and Medium Enterprises (MSMEs) at Vigyan Bhawan in New Delhi.

Besides Delhi, similar launch programmes will be held at 100 locations across the country, where Union Ministers, and Ministers from State Governments will be present. All these locations will also connect with Delhi, for the main event, which will include a special address by the Prime Minister. He is expected to touch upon several matters of vital interest to the MSME sector.

The Union Government has accorded high priority to the MSME sector in recent years. This outreach and support programme, which will run for the next 100 days, covering the entire country, is expected to provide even greater synergy to the efforts being made for this sector. The progress of this programme, to be implemented in mission mode, will be monitored on a continuous basis by senior officials of Union and State Governments.

Union Minister for Finance and Corporate Affairs, Arun Jaitley and the Union Minister of State (I/C) for MSME, Giriraj Singh, are among those who will be present on the occasion.

MSMEs which are registered under the goods and services tax (GST) can now avail of a loan of up to Rs 1 crore in just 59 minutes, the prime minister said. Also, GST-registered MSMEs will get 2 percent interest subvention or rebate on an incremental loan of up to Rs 1 crore.

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