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Rajiv Gandhi Udyami Mitra Yojana

Rajiv Gandhi Udyami Mitra Yojana:

  • The main aim of this programme is to offer guidance to the first generation entrepreneurs through the lead agencies called Udyami Mitra. They also help them in completing the formalities for establishment of enterprises.

New Schemes to support the Khadi Sector:

  • Under workshed Scheme for Khadi artisans, it has been targeted to provide 8,000 worksheds to Khadi spinners/artisans. To implement a comprehensive Khadi Reform Programme, financial aid has been tied up from the Asian Development Bank amounting to US$150 million over a period of 3 years. Initially the programme will be initiated in 300 Khadi institutions.
  • Under the Market Development Assistance (MDA) introduced in 2010-11, the production and sales of khadi and polyvastra is to be promoted. The scheme provides for assistance up to 20 per cent of the value of production to be shared among artisans, producing institutions, and selling institutions in the ratio 25:30:45.            Rajiv Gandhi Udyami Mitra Yojana

Credit Guarantee Scheme:

  • The objective of facilitating flow of credit to the MSEs, particularly to micro enterprises by providing guarantee cover for loans up to Rs. 100 lakh without collateral / third party guarantees. For making the scheme more attractive to both lenders as well as borrowers, several modifications have been undertaken which, inter alia, include:
  • enhancement in the loan limit to Rs. 100 lakh;                                                        Rajiv Gandhi Udyami Mitra Yojana
  • enhancement of guarantee cover from 75 per cent to 85 per cent for loans up to Rs. 5 lakh;
  • enhancement of guarantee cover from 75 per cent to 80 percent for MSEs owned/operated by women and for loans in north eastern region (NER);
  • reduction in one-time guarantee fee from 1.5 per cent to 1 per cent and annual service charges from 0.75 percent to 0.5 per cent for loans up to Rs. 5 lakh and
  • reduction in one-time guarantee fee for NER from 1.5 per cent to 0.75 per cent.                                        Rajiv Gandhi Udyami Mitra Yojana

Conclusion: As a result of these supportive policies, MSEs constitute an important segment of the Indian economy, contributing around 8% to the country’s GDP, 45% of the country’s manufacturing output and 40% of the exports in 2009-10. It provides employment to around 29.5 million people in the rural and urban areas of the country.

 

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Indian Economy

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