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PM Modi launches the MSME ‘Support and Outreach Programme’ in Delhi
PM Modi also announced twelve major decisions to accelerate growth in the MSMEs of India.
These 12 decisions are ‘Diwali Gifts’ from the government to the MSMEs of India: PM Modi
PM unveils 12 key initiatives
59 minute loan portal to enable easy access to credit for MSMEs
Mandatory 25 percent procurement from MSMEs by CPSEs
Ordinance for simplifying procedures for minor offences under Companies Act

The Prime Minister, Shri Narendra Modi, today launched a historic support and outreach programme for the Micro, Small and Medium Enterprises (MSME) sector. As part of this programme, the Prime Minister unveiled 12 key initiatives which will help the growth, expansion and facilitation of MSMEs across the country.

The Prime Minister said that the 12 decisions that he is announcing today, will mark a new chapter for the MSME sector. Noting that MSMEs are one of the principal employment generators in India, the Prime Minister recalled the glorious Indian traditions of small scale industry, including Ludhiana’s hosiery, and Varanasi’s sarees.

The Prime Minister said that the success of economic reforms launched by the Union Government, can be gauged from the rise in India's “Ease of Doing Business Rankings,” from 142 to 77 in four years.

The Prime Minister said that there are five key aspects for facilitating the MSME sector. These include access to credit, access to market, technology upgradation, ease of doing business, and a sense of security for employees. He said that as a Diwali gift for the sector, the 12 announcements he is making, will address each of these five categories.

Access to Credit

As the first announcement, the Prime Minister announced the launch of the 59 minute loan portal to enable easy access to credit for MSMEs. He said that loans upto Rs. 1 crore can be granted in-principle approval through this portal, in just 59 minutes. He said a link to this portal will be made available through the GST portal. The Prime Minister asserted that in New India, no one should be compelled to visit a bank branch repeatedly.

The Prime Minister mentioned the second announcement as a 2 percent interest subvention for all GST registered MSMEs, on fresh or incremental loans. For exporters who receive loans in the pre-shipment and post-shipment period, the Prime Minister announced an increase in interest rebate from 3 percent to 5 percent.

The third announcement made by the Prime Minister was that all companies with a turnover more than Rs. 500 crore, must now compulsorily be brought on the Trade Receivables e-Discounting System (TReDS). He said that joining this portal will enable entrepreneurs to access credit from banks, based on their upcoming receivables. This will resolve their problems of cash cycle.

Access to Markets

The Prime Minister said that on access to markets for entrepreneurs, the Union Government has taken a number of steps already. In this context, he made his fourth announcement, that public sector companies have now been asked to compulsorily procure 25 percent, instead of 20 percent of their total purchases, from MSMEs.

The Prime Minister said his fifth announcement is related to women entrepreneurs. He said that out of the 25 percent procurement mandated from MSMEs, 3 percent must now be reserved for women entrepreneurs.

The Prime Minister said that more than 1.5 lakh suppliers have now registered with GeM, out of which 40,000 are MSMEs. He said transactions worth more than Rs. 14,000 crore have been made so far through GeM. He said the sixth announcement is that all public sector undertakings of the Union Government must now compulsorily be a part of GeM. He said they should also get all their vendors registered on GeM.

Technology Upgradation

Coming to technological upgradation, the Prime Minister said that tool rooms across the country are a vital part of product design. His seventh announcement was that 20 hubs will be formed across the country, and 100 spokes in the form of tool rooms will be established.

Ease of Doing Business

On Ease of Doing Business, the Prime Minister said his eighth announcement is related to pharma companies. He said clusters will be formed of pharma MSMEs. He said 70 percent cost of establishing these clusters will be borne by the Union Government.

The Prime Minister said that the ninth announcement is on simplification of government procedures. He said the ninth announcement is that the return under 8 labour laws and 10 Union regulations must now be filed only once a year.

The Prime Minister said that the tenth announcement is that now the establishments to be visited by an Inspector will be decided through a computerised random allotment.

The Prime Minister noted that as part of establishing a unit, an entrepreneur needs two clearances namely, environmental clearance and consent to establish. He said that the eleventh announcement is that under air pollution and water pollution laws, now both these have been merged as a single consent. He further said that the return will be accepted through self-certification.

As the twelfth announcement, the Prime Minister mentioned that an Ordinance has been brought, under which, for minor violations under the Companies Act, the entrepreneur will no longer have to approach the Courts, but can correct them through simple procedures.

Social Security for MSME Sector Employees

The Prime Minister also spoke of social security for the MSME sector employees. He said that a mission will be launched to ensure that they have Jan Dhan Accounts, provident fund and insurance.

The Prime Minister said that these decisions would go a long way in strengthening the MSME sector in India. He said the implementation of this outreach programme will be intensively monitored over the next 100 days.

 

 

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Remembering Netaji Subhas Chandra Bose - PM Inaugurates Subhas Chandra Bose Museum at Red Fort
January 23, 2019
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PM Visits Yaad-e-Jallian Museum, Museum on 1857 and Drishyakala Museum in Delhi All 4 Museums named as Kranti Mandir.

Remembering the heroes of freedom struggle, the Prime Minister, Shri Narendra Modi paid floral tributes and inaugurated the Subhas Chandra Bose museum at Red Fort today, to mark his 122nd birth anniversary.  

He visited the Museum on Netaji Subhas Chandra Bose and Indian National Army. PM said, ‘I bow to Netaji Subhas Chandra Bose on his Jayanti. He was a stalwart who committed himself towards ensuring India is free and leads a life of dignity. We are committed to fulfilling his ideals and creating a strong India.’  He also added that History echoes from these walls. In this very building, brave sons of India, Colonel Prem Sahgal, Colonel Gurbaksh Singh Dhillon and Major General Shah Nawaz Khan were put on trial by the colonial rulers. He glanced over the photographs depicting a detailed account of Subhas Chandra Bose and the history of Indian National Army. PM also saw some of the artefacts associated with Netaji and INA such as wooden chair and sword used by Netaji, medals, badges and uniforms of INA. 

The Prime Minister browsed at the photographs, paintings and newspaper clippings depicting the authentic account of Jallianwala Bagh massacre  showcased in the Yaad-e-Jallian Museum. The museum intends to take visitors through the history of Jallianwala Bagh massacre of 1919 and sacrifices made by Indian soldiers during World War-1. 

He also visited the Museum on 1857- India’s first war of Independence and saw the portrayal the historical narrative of 1857 war of independence, showcasing the valour and sacrifices made by Indians during the period. These museums to showcase the sacrifice of our freedom fighters. 

Prime Minister had a look at the Exhibition on Indian Art at the Drishyakala- Museum organized at the same venue. He said ‘To see Gurudev Tagore’s works at Drishyakala is a treat for art lovers. We all know Gurudev Tagore as a prolific writer but he also had a strong link with the world or art. He produced lots of works, featuring multiple themes. Gurudev’s works were also exhibited internationally.’ He also tweeted ‘I would specially urge art lovers to visit Drishyakala, which will take you through the finest aspects of Indian art and culture. Works of eminent Indian artists like Raja Ravi Varma, Gurudev Tagore, Amrita Sher-Gil, Abanindranath Tagore, Nandlal Bose, Gaganendranath Tagore, Sailoz Mookherjea amd Jamini Roy are on display at the exhibition.

PM while inaugurating the museums said that,  it was extremely humbling to inaugurate four museums relating to India's rich history and culture. All four museums have been named as Kranti Mandir. This complex includes Museums on Netaji Subhas Chandra Bose and the Indian National Army, Yaad-e-Jallian Museum (on Jallianwala Bagh and World War 1), Museum on 1857- India’s First War of Independence and Drishyakala Museum on Indian Art, spanning three centuries, with over 450 works of art!

Kranti Mandir is a tribute to the revolutionary zeal and courage of our great freedom fighters. Ahead  of the Republic Day, these will deepen the connect between our glorious history and our youth as well as add to the patriotic fervour among citizens.