India has 633.88 lakh MSMEs

The Government promotes ecosystem for development of Micro, Small and Medium Enterprises (MSMEs) through various programmes and schemes, Rajya Sabha was told on 12 Dec 2018.

The focus is on developing and facilitating access to finance, skill development, infrastructure support, access to market, technology upgradation and ease of doing business.

This update was given to Rajya Sabha by Minister of State (Independent Charge) for Micro, Small and Medium Enterprises, Giriraj Singh.

Funds budgeted for different schemes were Rs.5,462.71 crore in 2016-17 and Rs.6,481.96 crore in 2017-18.

Expenditure during 2016-17 and 2017-18 was Rs.3,650.07 crore and Rs.6,213.60 crores, respectively.

India has 633.88 lakh unincorporated non-agricultural MSMEs (excluding construction), according to Ministry of Statistics and Programme July 2015-June 2016 survey.

These MSMEs were providing employment to 1,109.89 lakh persons.

MSMEs’ contribution in the Total Gross Value Added (GVA) was 31.8% during 2016-17. fiinews.com