: Expenditure on MSME schemes remain insufficient despite increase in budget allocation: Annual report 202122 #FinanceIndia #StockMarketNEWS Expenditure on MSME schemes remain insufficient despite increase

@StockMarketNEWS Wed 23 Feb, 2022

Posted in: #FinanceIndia #StockMarketNEWS

Expenditure on MSME schemes remain insufficient despite increase in budget allocation: Annual report 202122 #FinanceIndia #StockMarketNEWS
Expenditure on MSME schemes remain insufficient despite increase in budget allocation: Annual report 2021-22 New Delhi, Feb 23 (KNN) The actual expenditure on various MSME schemes remained inadequate in spite of increasing the budgetary allocation from Rs 7,572 crore in FY21 to Rs 15,700 crore for FY22.

The annual report for the year 2021-22 has been released by the Ministry of Micro, Small and Medium Enterprises (MSMEs), sharing data related to expenditure on major schemes for the nine-month period ended December 2021.

The Entrepreneurship and Skill Development Programmes (ESDP), which aimed to promote new enterprises had incurred Rs 1.83 crore expenditure out of Rs 10 crore allocated to it.

A total of 15,599 aspiring entrepreneurs were part of 315 programmes related to awareness about entrepreneurship, skill development, business management, and more.

The annual report continued to cite data on the number of MSMEs in India from the National Sample Survey (NSS) 73rd round, conducted by the National Sample Survey Office during FY16.

As per the report there are 6.33 crore unincorporated non-agricultural MSMEs in the country.

Out of 6.08 crore proprietary MSMEs, 79.63 per cent were owned by men and 20.37 per cent units were owned by women.

Likewise, the MSME-Competitive scheme reported Rs 1.61 crore expenditure out of Rs 19.43 crore allocated.

The ASPIRE scheme, which worked on setting up business incubators and looked at the commercialisation of business ideas, also reported only Rs 4.31 crore in expenditure out of Rs 15 crore allocated.

While MSME-Innovative (Incubation), MSME-Innovation (Design), and MSME-Innovative (IPR) schemes that catered to awareness and development of incubation, product design, and intellectual property rights ecosystem for MSMEs saw an expenditure of Rs 1.52 crore, Rs 2.36 crore, and Rs 0.14 crore out of the allocated Rs 23.16 crore, Rs 15.21 crore, and Rs 25.57 crore respectively.

The MSME Sustainable certification scheme to promote Zero Defect Zero Effect practices among MSMEs witnessed nil expenditure out of Rs 16 crore allocated. (KNN Bureau)