Government has earmarked a package of Rs 340 crore in the recently announced Union Budget 2017-18 for establishing khadi plazas and for the Modified Market Development Assistance scheme as it aims to increase the production and sales of khadi products by up to 20 per cent in the next three years. Close to Rs 15 crore from the package will be used for setting up the five khadi plazas.
The wage of artisans is also expected to increase and close to 1,500 khadi institutions will benefit from the provision of the Output Outcome framework of schemes for 2017-18, according to media reports.
About Rs 3,002 crore from the Rs 6,481.96-crore package allocated to the ministry of micro, small and medium enterprises has been given to the Credit Guarantee Scheme (CGS). It will help support credit proposals worth Rs 4,68,000, while approving credit guarantee of close to Rs 17,955 crore.
The Prime Minister's Employment Generation Programme (PMEGP) will receive Rs 1,024.49 crore to establish 56,500 micro units and provide employment to about 4.52 lakh people. In order to enhance job prospects for trained individuals, Rs 105 crore has been given to Technology Centres for assisting 40,000 units and training 1,99,500 individuals.
A provision has also been made in the Output Outcome framework of schemes for 2017-18 to provide Rs 451 crore to the Credit Linked Capital Subsidy Scheme (CLCSS). This will benefit about 6,700 MSMEs by helping them improve their productivity, product quality and sales turnover.
The cluster development programme (CDP) for MSME has also been given Rs 184 crore to increase the competitiveness of industrial sectors in the next two years. (KD)
Source:Fibre2Fashion News Desk – India