New Delhi: The Union Cabinet today approved 808 million dollars or over Six thousand 62 crore rupees, World Bank assisted programme on Raising and Accelerating MSME Performance RAMP. It is a new scheme and will commence in Financial Year 2022-23. Around 500 million dollars will be a loan from the World Bank and the remaining 308 million dollars would be funded by the Government of India.
RAMP is a World Bank assisted Central Sector Scheme, supporting various COVID Resilience and Recovery Interventions of the Ministry of Micro, Small and Medium Enterprises.
The programme aims at improving access to market and credit, strengthening institutions and governance at the Centre and State, improving Centre-State linkages and partnerships, addressing issues of delayed payments and greening of MSMEs.
The RAMP program will also seek to scale up implementation capacity and MSME coverage in States. The Cabinet Committee on Economic Affairs CCEA today approved the time extension three years to identified 10 Provisional Mega certified projects for furnishing the final Mega Certificates to the Tax authorities.
Extension of time period for furnishing final mega certificate will enable developers to competitively bid for future PPAs and get tax exemptions as per Policy terms. The increased liquidity will boost the overall growth of the country and also ensure the revival of various stressed power assets.
The time period for the 10 Provisional Mega projects which are commissioned or partly commissioned for furnishing the final Mega certificates to the Tax authorities has been extended to 13 years instead of 10 years from the date of import.
