The Ministry of Micro, Small and Medium Enterprises, with an aim to address the Green House Gases emission by MSMEs, has introduced two new sub-schemes under the Central Sector Scheme “Raising and Accelerating MSME Performance, (RAMP) in December 2023 to provide support to the MSEs in accessing institutional finance at a concessional rate for adoptingclean/green technologies and help them to transform into green and sustainable business operations. These are (i) MSE Green Investment and Financing for Transformation Scheme (MSE-GIFT Scheme) with a total outlay of Rs.478 Cr for three years (2023-24 to 2025-26). MSE-GIFT scheme intends to help MSMEs adopt identified green technologies. The scheme has three sub-components: Interest subvention (outlay Rs.350 Cr), Risk Sharing Facility (Rs. 125 Cr) and IEC (Rs. 3 Cr), and (ii) MSE Scheme for Promotion and Investment in Circular Economy (MSE- SPICE) with a total outlay of Rs. 472.5 Cr for four years (2023-24 to 2026-27).  The scheme has three sub- components: Credit linked capital subsidy (Rs 450Cr outlay), Awareness Generation and Demand creation (Rs. 15 CR) and IEC (Rs.7.5Cr).  The Small Industries Development Bank of India (SIDBI) is the Implementing Agency for both sub-schemes.

This information was given by the Minister of State for Micro, Small and Medium Enterprises, Sushri Shobha Karandlaje in a written reply in the Rajya Sabha today.

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