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Govt allocates Rs 24,124 cr for MSME, reviews policy

New Delhi, Dec 18 (KNN)  The government has allocated Rs 24,124 crore to the Ministry of Micro, Small and Medium Enterprises (MSMEs) for various schemes during the 12th Five Year Plan.

“An amount of Rs 24,124.00 crore has been allocated to the Ministry of MSME during the XIIth Five Year Plan to implement various schemes and programmes for the development of the sector,” said an official release from the ministry.

“The major issues relating to the MSME sector as highlighted in the XIIth Five Year Plan document focus on the problems faced by the sector in the areas of credit and finance, technology upgradation, marketing assistance, infrastructural support, skill development and institutional structure,” it said.

Meanwhile, MSME Minister, K H Muniyappa also told the Rajya Sabha yesterday that the department related Parliamentary Standing Committee on industry consistently reviews the performance of various schemes during its meetings and discusses demands for grants. 

The Minister also informed parliament that the Prime Minister’s Task Force on MSME has made recommendations on policy and programme support, institutional matters and legal measures for the growth of MSMEs in the country.

“The recommendations cover the areas of credit, taxation, labour issues, infrastructure, technology, skill development, marketing, rehabilitation and exit policy and special measures for north eastern region and Jammu & Kashmir,” he said.

Planning Commission constituted the present working group on MSME growth for 12th Five Year Plan (2012-17) under the chairmanship of MSME Secretary with 46 members of various ministries, representatives of selected state government and industries associations in May 2011. The terms of reference of the group also includes suggestions to address problems of unorganised sector and formulate proposals to facilitate overall growth of the MSME sector.