Kalraj Mishra, Union Minister for MSME says that to promote the interest of rural artisans, the Government has decided to take up development of 39 clusters with an approximate cost of Rs60 crore benefitting more than 10,000 artisans
Kalraj Mishra, Union Minister for MSME has said that 2016-17 will be the development year for MSME with the more allocation and increased job creation. He said that ministry has prepared a time bound action plan for utilising the allocation of Rs3,000 crore to his ministry and the implementation of major schemes which include PMEGP, SFRUTI, ASPIRE, et al.
Briefing about the roadmap and budget allocation of MSME Ministry here today, Mishra said that under PMEGP a sum of Rs1,139 crore will be utilised during 2016-17 to assist 55,000 projects with Margin Money. This will generate employment for more than 4, 25,000 persons.
He said that Khadi production is expected to reach Rs1,300 crore during this fiscal year, generating employment for more Rs19.50 lakh persons. Rs341 crore has been earmarked for Khadi & Village Industries Commission for this purpose.
Mishra said that to promote the interest of rural artisans, the Government has decided to take up development of 39 clusters with an approximate cost of Rs60 crore benefitting more than 10,000 artisans.
Mishra the Government is very keen to strengthen economic activities in rural pockets and with this purpose a sum of Rs100 crore has been earmarked under the Scheme for Promotion of Innovation in Rural Industries and Entrepreneurship which will be utilised to set up of 45 lBIs and 25 TBIs. He also said that for both SFURTI and ASPIRE, a web based application and monitoring system will be designed and implemented. He said that, Village Industries production is expected to cross Rs45,000 crore during 2016-17, creating employment for more than 163 lakh persons.
The Minister said that a sum of Rs43.56 crore has been allotted to take the Coir products to the level of 5.5 lakh metric tonnes and create employment for more than 7.25 lakh persons and exports of more than Rs1,500 crore.
Kalraj Mishra said that Ni-MSME plans to come up with MSME Clinic concept. The various experts on the different aspects of the working of MSMEs will be brought under one roof for providing one stop facilities to the MSMEs. He also said that Rs500 crore has been provided for promoting entrepreneurship among SC/ST to become job providers rather than job seekers. This will benefit at least 2.5 lakh entrepreneurs.
Mishra has said that Government has proposed to constitute a National Scheduled Caste and Scheduled Tribe Hub in his ministry in partnership with Industry associations. This Hub will provide professional support to Scheduled Caste and Scheduled Tribe entrepreneurs to fulfill the obligations under the Central Government Procurement Policy, 2012, adopt global best practices and leverage the Stand Up India initiative.
Mishra said that to give a fillip to the MSME sector the Government has proposed favorable tax incentives like increased turnover limit under Presumptive taxation scheme under Section 44AD of the Income Tax Act from existing Rsone crore to Rstwo crores, 100per cent deduction of profits for three out of five years for start ups set up during April, 2016 to March, 2019 and waiving of Capital gains tax if investment in regulated/notified fund of funds.
He also said that to promote entrepreneurship skills among the next generation, his Government proposed to give Entrepreneurship Education and Training through Massive Open Online Courses. This Training will be provided in 2,200 colleges, 300 schools, 500 Government and 50 Vocational Training Centres through Massive Open Online Courses. Aspiring entrepreneurs, particularly those from remote parts of the country, will be connected to mentors and credit markets.