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Economy, Schemes & Policies
Mahesh

31/03/22 06:42 AM IST

RAMP Scheme

In News 
  • The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi,approved a USD 808 million or Rs 6,062.45 crore, World Bank assisted programme on “Raising and Accelerating MSME Performance” (RAMP). 
  • RAMP is a new scheme and would commence in FY 2022-23.
  • RAMP was formulated and proposed by the Government of India, for strengthening MSMEs in line with the recommendations made by U K Sinha Committee, KV Kamath Committee and Economic Advisory Council to the Prime Minister (PMEAC).
About RAMP Scheme 
  • The total outlay for the scheme is  Rs.6,062.45 crore or USD 808 Million, out of which Rs.3750 crore or USD 500 Million would be a loan from the World Bank and the remaining Rs.2312.45 crore or USD 308 Million would be funded by the Government of India (GoI).
  • The programme aims 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.
  • In addition to building the MoMSME’s capacity at the national level, the RAMP program will seek to scale up implementation capacity and MSME coverage in  States. 
  • RAMP programme, through enhanced collaboration with States, will be a job-enabler, market promoter, finance facilitator, and will support vulnerable sections and greening initiatives.
  • In States where the presence of MSMEs is on the lower side, the programme will usher in larger formalization resulting from the higher impact of the schemes covered under RAMP. 
  • The programme will bolster the inadequately addressed blocks of capacity building, handholding, skill development, quality enrichment, technological upgradation, digitization, outreach and marketing promotion, amongst other things.
Features of the scheme 
  • ’Policy Provider’’ through the enhanced capacity for evidence-based policy and program design, to enable the delivery of more effective and cost-efficient MSME interventions to improve competitiveness and business sustainability.
  • “Knowledge Provider” through bench-marking, sharing and demonstrating best practices/success stories by leveraging international experiences, and
  • “Technology Provider” providing access to high-end technology resulting in the digital and technological transformation of MSMEs through state of art Artificial Intelligence, Data Analytics, Internet of things (IoT), Machine Learning etc.
  • RAMP programme with impacts across the country will directly or indirectly benefit all 63 million enterprises that qualify as MSMEs.
Source-PIB

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