MSMEs: Pioneering India's Path to Development by 2047

Union Minister Shobha Karandlaje emphasized the pivotal role of the MSME sector in achieving India's goal of becoming a developed nation by 2047. During a review meeting of the Prime Minister Vishwakarma Yojana in Rajasthan, she highlighted the government’s focus on bolstering MSMEs through subsidies, loans, and entrepreneurship support.

Union Minister Shobha Karandlaje has highlighted the significance of the Micro, Small and Medium Enterprises (MSME) sector in making India a developed nation by 2047, identifying it as the second-largest employment source after agriculture.

At the Udyog Bhawan in Rajasthan, where she reviewed the Prime Minister Vishwakarma Yojana's progress, Karandlaje emphasized the central government's commitment to reinforcing the MSME sector through various financial aids and entrepreneurial support. She revealed that approximately 10.5 lakh MSME units have benefited from subsidies amounting to Rs 29,000 crore under employment-linked schemes.

The minister also pointed out preferential subsidy rates for loans availed by Scheduled Caste and Scheduled Tribe entrepreneurs. Additionally, she noted that Rajasthan has excelled in implementing the Yojana, ranking second nationally, with measures in place to provide more toolkits and facilitate faster implementation in collaboration with the state government.

(With inputs from agencies.)