- The Raising and Accelerating MSME Performance (RAMP) scheme were announced in 2020 to support MSMEs affected by the COVID-19 pandemic.
- The scheme aims to improve the performance of 5.55 lakh MSMEs, according to a World Bank statement.
- The launch of the web portal for the RAMP scheme is a step towards providing much-needed support to MSMEs in India.
- The scheme is backed by both the World Bank and the Indian government.
- The scheme aims to improve the performance of MSMEs in the country by supporting institutional and policy reforms, research studies, and technology upgradation.
- The scheme will initially be implemented in five states, to scale up to cover MSMEs throughout India eventually.
- Putting the RAMP Scheme into Practice
- The RAMP plan would ask states and union territories to create Strategic Investment Plans during the first year of implementation, FY23 (SIPs). Based on the MSME Ministry's assessments, the projects or firms suggested in the SIPs will receive funding. Five states—Gujarat, Maharashtra, Punjab, Rajasthan, and Tamil Nadu—which are said to be home to 54% of all MSMEs registered in the nation—will be the first to implement the program.
- To support the ministry's different MSME programs, the financial assistance provided by the RAMP scheme will be allocated to the MSME Ministry's budget in accordance with "Disbursement Linked Indicators" (DLIs).
Question:
Q.1 Which ministry has recently launched a web portal for the Raising and Accelerating MSME Performance (RAMP) scheme?
a. Ministry of Skill Development and Entrepreneurship
b. Ministry of Commerce And Industry
c. Ministry of Micro, Small and Medium Enterprises
d. Ministry of External Affairs
a. Ministry of Skill Development and Entrepreneurship
b. Ministry of Commerce And Industry
c. Ministry of Micro, Small and Medium Enterprises
d. Ministry of External Affairs
