Cabinet approves USD808-million programme for “Raising and Accelerating MSME Performance”

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved a USD 808 million or Rs 6,062.45 crore, World Bank assisted programme on “Raising and Accelerating MSME Performance” (RAMP). Out of the total outlay, Rs.3750 crore (USD 500 Million) would be a loan from the World Bank and the remaining Rs.2312.45 crore (USD 308 Million) would be funded by the Government of India (GoI).

The scheme called ‘Raising and Accelerating MSME Performance’ (RAMP) is a World Bank assisted Central Sector Scheme and would commence in FY 2022-23.