Question
When was the RAMP Scheme commenced?
Solution
The RAMP Scheme (Raising and Accelerating MSME Performance Scheme) was launched in the financial year 2022-23 as a major initiative to address the challenges faced by MSMEs, particularly those related to the COVID-19 pandemic. The scheme's commencement in FY 2022-23 marked the government's proactive response to strengthen and enhance the performance of MSMEs, which are vital contributors to the Indian economy. The scheme aims to improve competitiveness by addressing both the generic challenges and those specific to COVID-19, helping MSMEs recover and thrive in a post-pandemic environment.
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