Which of the following statement is not correct about the recent steps taken by government to support MSMEs?

Solution

Prime Minister Narendra Modi launched two schemes for supporting micro, small and medium enterprises (MSME) —‘Raising and Accelerating MSME Performance’ (RAMP) and ‘Capacity Building of First-Time MSME Exporters’ (CBFTE). Raising and Accelerating MSME Performance’ (RAMP): Aimed at scaling up the implementation capacity and coverage of MSMEs, with impact enhancement of existing MSME schemes, RAMP will be implemented in collaboration with the World Bank with an investment of ₹6,000 crore over five years. Capacity Building of First-Time MSME Exporters’ (CBFTE): The CBFTE scheme aims to encourage MSMEs to offer products and services of international standards for the global market. This will enhance the participation of Indian MSMEs in the global value chain and help them realise their export potential. RAMP Aimed at: Improving access to market and credit Strengthening institutions and governance at the Centre and State Improving Centre-State linkages and partnerships Addressing issues of delayed payments and greening of MSMEs