The allocated amount to MSMEs in the first full budget of the Modi 3.0 government has remained the same from the previous year while the amount for central sector schemes for MSMEs has been increased marginally to Rs 21,868 crore in this year’s budget from Rs 21,852 crore in 2023-24 budget estimates.
Budget 2024: Finance Minister Nirmala Sitharaman has allocated Rs 22,138 crore or 0.45 per cent of the 2024-25 total budget expenditure of Rs 48.21 lakh crore to the MSME Ministry. The allocated amount to MSMEs in the first full budget of the Modi 3.0 government has remained the same as the previous year while the amount for central sector schemes for MSMEs has been increased marginally to Rs 21,868 crore in this year’s budget from Rs 21,852 crore in 2023-24 budget estimates.
The allocation for most of the schemes by the MSME Ministry has been increased even as Sitharaman announced additional measures in her speech on Tuesday to boost credit access for MSMEs.
– Scheme for Fund for Regeneration of Traditional Industries (SFURTI): Rs 260 crore, down from Rs 280 crore
– Coir Vikas Yojana: Rs 103.10 crore vis-a-vis Rs 92 crore
– Khadi Gramodyog Vikas Yojana: Rs 1,037 crore in comparison to Rs 917 crore
– ASPIRE (Promotion of Innovation, Rural Industry and Entrepreneurship): Rs 20 crore, down from Rs 22.23 crore
– MSME Champions Scheme: Rs 54.7 crore in comparison to Rs 52.7 crore
– PMEGP: Rs 2,300 crore, down from Rs 2,700 crore
– Credit Support Programme: Rs 0.04 crore in comparison to Rs 500 crore
– Guarantee Emergency Credit Line (GECL) facility to eligible MSME borrowers: Rs 9,812 crore, down from Rs 14,100 crore
– Credit Linked Capital Subsidy (CLCS): Rs 0.55 crore vis-a-vis Rs 1.06 crore
– Procurement and Marketing Support Scheme: Rs 65 crore in comparison to Rs 96 crore
– Fund of Funds: Rs 575 crore same as the previous year
– Entrepreneurship cum Skill Development Programme (ESDP): Rs 99 crore, up from Rs 80 crore
– Raising and Accelerating MSME Performance – RAMP: Rs 1,170 crore same as the previous year
– Micro and Small Enterprise-Cluster Development Programme (MSE-CDP): Rs 400 crore, up from Rs 150 crore
– National Schedule Caste/Schedule Tribe Hub Centre: Rs 99.92 crore vis-a-vis Rs 100 crore
– PM Vishwakarma: Rs 4,824 crore from Rs 989 crore (revised estimates last year)
– Pradhan Mantri Mudra Yojana (PMMY): Rs 0.1 crore same as the previous year
– Credit Guarantee Scheme for Micro Finance Institutions (CGSMFI): Rs 50 crore, down from Rs 100 crore
– Stand-Up India: Rs 0.1 crore same as the previous year
– Subsidy to SIDBI on Interest Subvention of 2 per cent for prompt repayment of Shishu Loans: Rs 0.1 crore same as the previous year
Subscribe to Financial Express SME (FE Aspire) newsletter now: Your weekly dose of news, views, and updates from the world of micro, small, and medium enterprises
