Rs 1,000 crore earmarked for MSMEs of North East

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M Sreenivasulu, Director of Micro, Small and Medium Enterprise- Development Institute, Guwahati stated that Government of India has earmarked around Rs 1,000 crore for implementation of various schemes for Micro Small and Medium Enterprise (MSME) for the North East region for the current financial year.

MSMEs are significantly present in all States and Union Territories and are the second largest employer after agriculture in the country.

Sreenivasulu said that inspite of the various welfare schemes being run by the Ministry of MSME, it has been found that there has been lack of awareness of the schemes upto the grass root level and this has prevented in the reach of the these benefits earmarked by Government of India to the exact target group.

Sreenivasulu said that that the schemes of the Ministry are central sector schemes in which specific percentage of the budgetary allocation are earmarked for SC, ST and North Eastern Region’s population.

Sreenivasulu informed that under CGFS, loan guarantees are provided to MSEs which in turn result in employment generation. While claiming PMEGP to be a very successful programme of the government, the director said that PMEGP is a major credit-linked subsidy programme aimed at generating self-employment opportunities through establishment of micro-enterprises in the non-farm sector by helping traditional artisans and unemployed youth.

It is to be mentioned here that Micro, Small and Medium Enterprise- Development Institute, Guwahati, established in 1958, promotes the development of micro and small enterprises in the states of Assam, Meghalaya and Arunachal Pradesh through 6 branch institutes – Tezpur, Silchar, Diphu, Itanagar, Shillong and Tura.

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