Ramp Yojana 2024 - Raising and Accelerating MSME Performance Scheme Details

Raising and Accelerating MSME Performance scheme has been launched by central government. Ramp Yojana is a World Bank assisted central sector program to strengthen India's Micro Small and Medium Enterprises (MSME) sector. Read this article till the end to know Ramp Yojana 2024 complete details.

About Ramp Yojana 2024

Raising and Accelerating MSME Performance program aims to:-

• Improve access to market and credit,
• Strengthening institutions,
• Enhance Centre-state partnerships,
• Address issues of delayed payments and greening of MSMEs, 
• Ramp up implementation capacity and MSME coverage in states.

Components of Ramp Scheme

• Strategic Investment Plans (SIPs) have been prepared under Ramp Yojana 2023-24. All states and union territories are invited to prepare SIPs.
• An apex National MSME Council is conducting overall monitoring and policy review of RAMP scheme. 
• This council is headed by the Minister for MSME and include representation from various ministries and supported by a secretariat.

Benefits of Raising and Accelerating MSME Performance Scheme

• Ramp yojana will address the generic problems in the MSME sector.
• This scheme will improve capacity building, handholding, skill development, quality enrichment, technological upgradation, digitization, outreach and marketing promotion.
• Ramp scheme will help in the generation of employment.
• It would promote a larger formalisation in the MSMSE sector.
• Ramp yojna will complement the AtmanNirbhar Bharat mission to encourage innovation. 
• It would enhance industry standards, practices and providing necessary technological inputs to MSMEs.

Raising and Accelerating MSME Performance Timeline

RAMP scheme is in line with the recommendations by UK Sinha Committee, KV Kamath Committee and Economic Advisory Council to the Prime Minister (PMEAC). The Reserve Bank of India (RBI) had formed the UK Sinha Committee in 2019 to suggest measures for the economic and financial sustainability of the MSME sector.

The scheme was firstly announced by Finance Minister Nirmala Sitharaman in the Union Budget 2022-23. Union Cabinet, chaired by Prime Minister Narendra Modi, approved it in March 2022. PM Modi then launched the Ramp scheme at a program in New Delhi on 30 June 2022.

Read Ramp Yojana details - https://www.myscheme.gov.in/schemes/ramp