New subschemes under RAMP

• Union Ministry for MSME has launched three sub-schemes under the aegis of the RAMP programme.
• These are-
  • The first scheme – The MSME Green Investment and Financing for Transformation Scheme (MSME GIFT Scheme) intends to help MSMEs adopt green technology with interest subvention and credit guarantee support.
  • The MSE Scheme for Promotion and Investment in Circular Economy (MSE SPICE Scheme) is the first ever scheme in the Government to support circular economy projects which will be done through credit subsidy and will lead to realising the dream of MSME sector towards zero emissions by 2070.
  • The MSE Scheme on Online Dispute Resolution for Delayed Payments is a first of its kind scheme to synergise legal support with modern IT tools and Artificial Intelligence to address the incidences of delayed payments for Micro and Small Enterprises.
• implementing agencies-
  • SIDBI (for MSME GIFT and MSME SPICE schemes) and
  • National Informatics Centre Services Inc. (for NICSI) for MSE ODR scheme.

ABOUT RAMP PROGRAMME

• Raising & Accelerating MSME Performance (RAMP) program is a World Bank supported Central Sector Scheme for MSMEs.
• It 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.