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RAMP Programme

By Amigos IAS

Why is it in the news?

  • The Union Minister for Micro, Small and Medium Enterprises (MSME) inaugurates three sub-schemes under the RAMP (Rejuvenation, Adoption, and Multiplication) programme.

 

Sub-schemes under RAMP

MSME Green Investment and Financing for Transformation Scheme (MSE GIFT Scheme):

  • Aims to facilitate MSMEs in adopting green technology.
  • Provides interest subvention to make green technology more accessible.
  • Offers credit guarantee support to encourage MSMEs to invest in sustainable practices.

 

MSE Scheme for Promotion and Investment in Circular Economy (MSE SPICE Scheme):

  • Aims to promote circular economy projects within the MSME sector.
  • Provides credit subsidies to incentivize MSMEs to adopt circular economy practices.
  • Contributes to the MSME sector’s goal of achieving zero emissions by 2070.

 

MSE Scheme on Online Dispute Resolution for Delayed Payments:

  • Addresses the issue of delayed payments for Micro and Small Enterprises.
  • Integrates modern IT tools and Artificial Intelligence in the resolution process.
  • Aims to streamline dispute resolution and mitigate the impact of delayed payments on MSMEs.

 

About RAMP Programme

·       RAMP is a Central Sector Scheme that receives assistance from the World Bank.

·       The international collaboration enhances the financial and technical resources available for the program.

·       The Ministry of Micro, Small and Medium Enterprises (MSME) is the nodal ministry responsible for overseeing the RAMP programme.

 

Objectives:

·       Improves access to market opportunities and credit facilities for MSMEs.

·       Strengthens institutions and governance structures both at the Central and State levels.

·       Enhances linkages and partnerships between the Central and State governments.

·       Addresses the pervasive issue of delayed payments, providing relief to MSMEs.

·       Promotes sustainable and environmentally friendly practices within the MSME sector.

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