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The Udyami Bharat Programme, introduced by the Prime Minister of India, aims to provide support to candidates engaged in marginal and small businesses across the country. This comprehensive program encompasses various existing schemes, while also introducing the Raising and Accelerating MSME Performance Scheme 2023. In this article, we will delve into the details, features, and benefits of the Udyami Bharat Programme 2023, benefiting the residents of India.
PM Udyami Bharat
Prime Minister Narendra Modi has taken the initiative to spearhead the Udyami Bharat Program. The event, taking place at Vigyan Bhavan in New Delhi today, will witness the launch of the Raising and Accelerating MSME Performance Scheme, the Capacity Building of First-Time MSME Exporters Scheme, and the introduction of new features to the Prime Minister’s Employment Generation Program. Furthermore, the Prime Minister will digitally transfer assistance to the beneficiaries of the Employment Generation Program for the years 2022 and 2023. The event will also include the announcement of the results of the MSME Idea Hackathon 2023, the distribution of National MSME Awards 2022, and the issuance of Digital Equity Certificates to 75 MSMEs in the Self-Reliant India (SRI) Fund.
Objective of Udyami Bharat Scheme
The primary objective of the Udyami Bharat Scheme is to reflect the Government’s unwavering commitment to employment generation and the empowerment of marginal and small businesses in India. The government has previously launched various initiatives such as the Mudra Yojana and the Credit Line Guarantee Scheme to generate financial resources for the marginal and small sectors, benefitting millions of middle-class families across the nation. With an allocation of ₹6,000 crores, the Raising and Accelerating MSME Performance Scheme aims to enhance the capacity of marginal and small businesses in different states, complementing the Bharat Abhiyan by fostering innovation and encouraging the establishment of new enterprises.
Udyog Aadhaar MSME Registration
To ensure the smooth implementation of the Udyami Bharat Programme, interested individuals must complete the Udyog Aadhaar MSME registration process. This registration enables businesses to avail themselves of the benefits and support provided by the scheme.
Benefits of the Udyami Bharat Programme
The Udyami Bharat Yojana encompasses various schemes and programs introduced by the Prime Minister, offering a range of benefits to the eligible candidates. The Employment Generation Program will witness an increase in the maximum project cost to ₹50 lakhs for the manufacturing sector (previously ₹25 lakhs) and ₹20 lakhs for the service sector (previously ₹10 lakhs). Additionally, applicants from aspirational districts and the transgender community will be included in the special category, enabling them to avail higher subsidies. The scheme also provides hand-holding support to entrepreneurs through the engagement of banking, technical, and marketing experts. Furthermore, the Prime Minister will announce the results of the MSME Idea Hackathon, which was launched in March, offering a funding support of up to ₹15 lakhs for approved ideas.
Features of Udyami Bharat Programme
The Udyami Bharat Program 2023 will encompass the following features as presented by Prime Minister Narendra Modi:
- Raising and Accelerating MSME Performance (RAMP) Scheme: With an approximate outlay of ₹6,000 crores, this scheme aims to enhance the implementation capacity and coverage of MSMEs in different states. By promoting innovation, encouraging ideation, incubating new businesses, and developing quality standards, this scheme will make MSMEs competitive and self-reliant, complementing the Aatmanirbhar Bharat Abhiyan.
- Capacity Building of First-Time MSME Exporters (CBFTE) Scheme: This scheme intends to foster international standards among MSMEs, enabling them to offer products and services of global quality. By enhancing the participation of Indian MSMEs in the global value chain, this scheme will help them realize their export potential.
- New Features of the Prime Minister’s Employment Generation Program (PMEGP): The PMEGP will witness an increase in the maximum project cost to ₹50 lakhs for the manufacturing sector and ₹20 lakhs for the service sector. Additionally, applicants from aspirational districts and the transgender community will be included in the special category, allowing them to access higher subsidies. Furthermore, hand-holding support will be provided to applicants and entrepreneurs through the engagement of banking, technical, and marketing experts.
- MSME Idea Hackathon 2023: Launched to promote the untapped creativity of individuals and encourage the adoption of the latest technologies and innovation among MSMEs, this hackathon aims to support selected ideas with funding of up to ₹15 lakhs per approved idea.
- National MSME Awards 2023: These awards recognize the contributions of MSMEs, states/union territories, aspirational districts, and banks in the growth and development of India’s dynamic MSME sector.
Udyami Bharat Application Procedure
To apply for the Raising and Accelerating MSME Performance Scheme 2023, interested candidates can refer to the details provided during the Udyami Bharat Program 2023. Small and marginal business owners, as well as aspiring entrepreneurs, can fill out the application form or wait for the official notification from the Indian government to apply for this prestigious scheme. For more information regarding the scheme, refer to the Udyami Bharat Program, taking place today.
In conclusion, the Udyami Bharat Programme 2023 introduced by the Prime Minister of India aims to uplift marginal and small businesses, offering them various benefits and support through different schemes. With its focus on fostering innovation, enhancing capacity, and empowering entrepreneurs, this program contributes to the growth and development of India’s MSME sector.
Frequently Asked Questions (FAQ) – Udyami Bharat Programme 2023
Q1: What is the Udyami Bharat Programme 2023? The Udyami Bharat Programme 2023 is a comprehensive initiative launched by the Prime Minister of India to support marginal and small businesses across the country. It includes various schemes and programs aimed at enhancing the capacity, performance, and competitiveness of MSMEs.
Q2: What are the objectives of the Udyami Bharat Scheme? The main objectives of the Udyami Bharat Scheme are to promote employment generation, empower marginal and small businesses, foster innovation, and encourage the establishment of new enterprises. The scheme also aims to complement the Bharat Abhiyan and uplift the MSME sector in India.
Q3: What are the benefits provided under the Udyami Bharat Programme? The Udyami Bharat Programme offers a range of benefits to eligible candidates. These include increased project cost limits for the manufacturing and service sectors, higher subsidies for applicants from aspirational districts and the transgender community, hand-holding support through engagement with experts, funding support for approved ideas through the MSME Idea Hackathon, and recognition through the National MSME Awards.
Q4: How can I register for the Udyami Bharat Programme? To participate in the Udyami Bharat Programme and avail its benefits, interested individuals can complete the Udyog Aadhaar MSME registration process. This registration enables businesses to access the support and opportunities provided by the scheme.
Q5: What are the key features of the Udyami Bharat Programme? The Udyami Bharat Programme 2023 includes key features such as the Raising and Accelerating MSME Performance (RAMP) Scheme, Capacity Building of First-Time MSME Exporters (CBFTE) Scheme, enhancements to the Prime Minister’s Employment Generation Programme (PMEGP), the MSME Idea Hackathon, and the National MSME Awards.
Q6: How can I apply for the Raising and Accelerating MSME Performance Scheme 2023? To apply for the Raising and Accelerating MSME Performance Scheme 2023, interested candidates can fill out the application form provided by the Indian government. Alternatively, they can wait for the official notification and follow the application instructions mentioned therein.
Q7: What is the aim of the MSME Idea Hackathon? The MSME Idea Hackathon aims to promote and support the untapped creativity of individuals and encourage the adoption of the latest technologies and innovation among MSMEs. Selected ideas will receive funding support of up to ₹15 lakhs per approved idea.
Q8: What is the significance of the National MSME Awards? The National MSME Awards recognize the outstanding performance and contributions of MSMEs, states/union territories, aspirational districts, and banks in the growth and development of India’s dynamic MSME sector. The awards serve as a platform to acknowledge and celebrate their achievements.
Q9: How does the Udyami Bharat Programme contribute to self-reliance and innovation? The Udyami Bharat Programme complements the Aatmanirbhar Bharat Abhiyan by fostering innovation, encouraging ideation, and incubating new businesses. It aims to make MSMEs competitive and self-reliant by developing quality standards, enhancing market access, and deploying technological tools and Industry 4.0 practices.
Q10: Where can I find more information about the Udyami Bharat Programme? For more information about the Udyami Bharat Programme, you can refer to the official announcements and notifications released by the Indian government. Additionally, you can stay updated through news portals, government websites, and related publications that cover the latest developments and details of the program.
