2nd Engine of Development: MSME

Revision in classification criteria for MSMEs

Enhancement of credit availability with guarantee cover

Credit Cards for Micro Enterprises

• Customized Credit Cards with a ₹ 5 lakh limit for micro enterprises registered on Udyam portal. 
• In the first year, 10 lakh cards to be issued.

Fund of Funds for Startups

• A new Fund of Funds, with expanded scope and fresh contribution of ₹ 10,000 crore to be set up.

Scheme for First-time Entrepreneurs

• For 5 lakh first-time entrepreneurs, including women, Scheduled Castes and Scheduled Tribes to be launched.
• It will provide term loans up to Rs 2 crore during the next 5 years.

Measures for Labour-Intensive Sectors to promote employment and entrepreneurship opportunities

• Focus Product Scheme for Footwear & Leather Sectors: To enhance productivity, quality and competitiveness of footwear and leather sector.
  • Features: To provide support for design capacity, component manufacturing, and machinery required for production of non-leather & leather footwear and products. 
  • Goal: Facilitate employment for 22 lakh persons; generate turnover of ₹ 4 lakh crore & exports of over ₹ 1.1 lakh crore.
• Scheme to make India a global hub for toys: To focus on development of clusters, skills, and a manufacturing ecosystem that will create high-quality, unique, innovative, and sustainable toys that will represent the 'Made in India' brand.
  • It builds on the National Action Plan for Toys.
• Support for Food Processing – Establishment of National Institute of Food Technology, Entrepreneurship and Management in Bihar.
  • It will result in enhanced income for the farmers; skilling, entrepreneurship & employment opportunities for the youth.

National Manufacturing Mission - Furthering "Make in India"

• To focus on ease and cost of doing business; create future ready workforce for in-demand jobs; develop vibrant and dynamic MSME sector, clean tech manufacturing for climate friendly development. 
  • It will cover small, medium, and large industries by providing policy support, execution roadmaps, governance, etc.
• Mission will also support Clean Tech manufacturing to improve domestic value addition and build our ecosystem for solar PV cells, EV batteries, motors and controllers, electrolyzers, wind turbines, very high voltage transmission equipment and grid scale batteries.