RAMP Programme

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.

AMIGOS IAS