The Prime Minister of India is organizing a special event to support the candidates who are focusing on promoting small and marginal businesses in India. During the event, the Prime Minister will introduce several enhancements to the existing schemes and unveil a new initiative called “Enhancing and Intensifying the MSME Demonstration Scheme 2023”. For comprehensive information about Entrepreneur India Program 2023, please see the article below. We will also share all the details, features and benefits available to Indian residents through this program. Udyami Bharat Programme
PM Udyami Bharat Programme
Today, the Prime Minister of India will actively participate in the Entrepreneur India event, scheduled to be held at Vigyan Bhawan, New Delhi. During the event, the Prime Minister will launch several important initiatives:
- Enhancing and Accelerating MSME Performance Scheme: The scheme aims to boost the performance of Micro, Small and Medium Enterprises (MSMEs) by providing support and incentives.
- Capacity Building of First-Time MSME Exporters Scheme: An initiative designed to assist first-time MSME exporters in enhancing their capabilities and expanding into international markets.
- Prime Minister’s Employment Generation Programme: The Prime Minister will also include new features in this program to promote employment generation and entrepreneurship. Udyami Bharat Programme
Apart from these announcements, the Prime Minister will digitally transfer the assistance to the beneficiaries of the Employment Generation Program for the years 2022 and 2023. Additionally, the event will also include the announcement of the results of MSME Idea Hackathon 2023, distribution of National MSME. Awards for 2022, and issuance of Digital Equity Certificates to 75 MSMEs participating in the Self-reliant India (SRI) Fund.
Objective Of Udyami Bharat Scheme
The primary objective of the scheme is to reaffirm the government’s unwavering commitment to employment generation and empowerment of marginal and small businesses of India. The Government has from time to time launched various initiatives such as Mudra Yojana and Credit Line Guarantee Scheme with the aim of raising additional funds for marginal and small sectors, which will benefit millions of middle class families across the country. Udyami Bharat Programme
A substantial amount of Rs 6,000 crore has been earmarked to scale up and accelerate the MSME Demonstration Scheme. The initiative will focus on enhancing the existing MSME scheme as well as enhancing the potential of marginal and small businesses in the states. This will tie in with the India campaign by fostering innovation and encouraging the establishment of new businesses. Udyami Bharat Programme
Benefits Of The Udyami Bharat
- Under the leadership of the Prime Minister, the Entrepreneur India Scheme consists of several schemes for diverse purposes. The program will introduce several enhancements to the employment generation programme, including an increase in the maximum project cost. The maximum project cost for the manufacturing sector will be increased from Rs 25 lakh to Rs 50 lakh and for the service sector it will be increased from Rs 10 lakh to Rs 20 lakh. Udyami Bharat Programme
- Notably, the program will include applicants from aspirational districts and transgender persons in a special category, thereby helping them get higher subsidies. Entrepreneurs will also receive valuable support through linkages with banking, technical and marketing experts.
- Additionally, the Prime Minister will unveil the results of the MSME Ideas Hackathon launched in March to encourage individual creativity. Selected candidates with approved ideas will get financial assistance of Rs 15,00,000 to bring their innovative concepts to life.
Features Of Udyami Bharat Programme
In the Entrepreneur India 2023 event, the Prime Minister of India will address several important initiatives and topics, including:
- Scaling up and Accelerating MSME Performance (RAMP) Scheme: With a budget of around Rs 6000 crore, the scheme aims to enhance the reach and effectiveness of MSMEs in various states. It aims to improve existing MSME programmes, promote innovation, encourage new business ideas, support entrepreneurship, enhance quality standards, streamline practices, provide better market access, leverage technology (Industry 4.0) And to make MSMEs more competitive and self-reliant.
- For the first time, Capacity Building of MSME Exporters (CBFTE) Scheme: This initiative is designed to motivate MSMEs to offer products and services that meet international standards, thereby enabling them to participate more actively in the global market. Can be made capable. The goal is to help Indian MSMEs realize their export potential and become part of the global value chain.
- New features in the Prime Minister’s Employment Generation Program (PMEGP): The program will see an increase in the maximum project cost to Rs 50 lakh (above Rs 25 lakh) for the manufacturing sector and Rs 20 lakh (above) for the services sector. Rs 10 lakh). Additionally, applicants from aspirational districts and transgender persons will be included in the special category, making them eligible for higher subsidies. The initiative also provides assistance to applicants and entrepreneurs through engagement with experts from the banking, technical and marketing sectors.
- MSME Idea Hackathon, 2023: This initiative encourages and supports the untapped creativity of individuals while promoting adoption of latest technologies and innovation within MSMEs. Selected incubated ideas will receive funding support of up to Rs. Rs 15 lakh per accepted idea.
- National MSME Awards 2023: These awards recognize the exceptional contribution of MSMEs, States/UTs, Aspirational Districts and Banks for their outstanding performance in the growth and development of India’s dynamic MSME sector. Udyami Bharat Programme
Udyami Bharat Application Procedure
If you are a small or marginal businessman or an aspiring entrepreneur looking forward to join the business scenario of the country, now you have the opportunity to apply for the MSME Performance Enhancement and Enhancement Scheme 2023. The Prime Minister presented all the necessary details about this scheme. During the Entrepreneur India Program in 2023. Udyami Bharat Programme
To apply, you have a few options:
- Fill the Application Form: You can actively fill the application form for this prestigious scheme, indicating your interest and readiness to participate.
- Wait for Official Notification: Alternatively, you can wait for the official notification to be released by the Government of India. Once the notification is published, you can follow the mentioned procedures and requirements to apply.
For more detailed specifications and information about the scheme, you can refer to the Entrepreneur India event, which is scheduled to take place today. This program will provide further information about the scheme and its application process. Udyami Bharat Programme