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Raising and Accelerating MSME Performance (RAMP) Program 

  • IASbaba
  • June 10, 2021
  • 0
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Raising and Accelerating MSME Performance (RAMP) Program 

Part of: GS Prelims and GS-III – Economy

In news

  • The World Bank has approved a USD 500 million program to help boost India’s MSME sector.
  • The program is the Raising and Accelerating Micro, Small and Medium Enterprise (MSME) Performance (RAMP) Program.
    • It is the World Bank’s second intervention in this sector.
  • The first intervention was the USD 750 million MSME Emergency Response Program.

Features of the RAMP

  • The programme targets improvements in the performance of 5.5 lakh MSMEs. 
  • It is expected to mobilise financing of USD 15.5 billion, as part of the government’s USD 3.4 billion MSME Competitiveness – A Post-COVID Resilience and Recovery Programme (MCRRP).
  • It will provide better access to finance and working capital for MSMEs by strengthening the financing markets.
  • It will also scale up online dispute resolution mechanisms to address the problem of delayed payments.

Other Initiatives by India for MSME sector

  • Prime Minister Employment Generation Programme and Other Credit Support Schemes

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