The Modi government is actively supporting micro, small, and medium enterprises (MSMEs).
As part of this effort, micro and small businesses led by women can now receive up to 90% of their loans without any guarantee under the CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) scheme.
Union Minister Jitan Ram Manjhi announced that the CGTMSE Board of Directors approved new guidelines last week, benefiting around 27 lakh women-led MSMEs.
21 Crore Jobs Created by MSMEs
Before this decision, women-owned MSMEs could get 85% loan guarantee coverage.
While sharing the ministry’s achievements during the first 100 days of Modi’s third term, Manjhi highlighted the upcoming ‘PM Vishwakarma Yojana’ program on September 20 in Wardha, Maharashtra, which Prime Minister Modi is expected to attend.
The MSME Minister also mentioned that 5.07 crore MSMEs have been organized, resulting in the creation of 21 crore jobs.
New Technology Centers to Boost Entrepreneurship
The MSME Ministry shared that several approvals were granted in the last 100 days under the Prime Minister Employment Generation Program (PMEGP).
This included the establishment of 26,426 new micro enterprises with loans totaling Rs 3,148 crore, expected to create jobs for over 2.11 lakh people and encourage both rural and urban entrepreneurship.
Manjhi added that the ministry plans to set up 14 technology centers in cities like Nagpur, Pune, and Bokaro with an investment of Rs 2,800 crore.
These centers, developed through public-private partnerships, will give local MSMEs access to advanced manufacturing technologies, skill development, and business advisory services.
Over the next five years, these centers will benefit one lakh MSMEs and provide training for three lakh youths.
