PM Modi launches RAMP scheme for MSMEs, CBFTE scheme for first-time exporters

Credit and Finance for MSMEs: Prime Minister Narendra Modi on Thursday launched the Rs 6,062.45-crore World Bank-assisted central government program Raising and Accelerating MSME Performance (RAMP) scheme for MSMEs, three months after it was approved by the Cabinet chaired by PM Modi. The five-year RAMP scheme will begin in the current financial year 2022-23 even as it was announced back in 2020 by the government and the World Bank to support Covid-hit MSMEs in their business recovery.

Addressing the ‘Udyami Bharat’ program in New Delhi, PM Modi said, “18,000 MSMEs have been digitally transferred over Rs 500 crore and over Rs 1,400 crore has been released under Rs 50,000 crore Self-Reliant India Fund for MSMEs. MSMEs play a big role in the country’s progress.

Read more at Financial Express