Special Credit Linked Capital Subsidy Scheme (SCLCSS) By Ministry Of MSME
Launched on:-
The scheme was launched on 19th November 2021 by Narayan Rane, union minister for Micro, small and medium enterprises.
The scheme was launched during the MSME Northeast conclave held at Guwahati.
Ministry involved:-
SCLCSS scheme is under ministry of Micro, small and medium enterprises (MSME).
Objectives:-
- To help in meeting the technology-related requirements of enterprises in the services sector.
- To provide 25% capital subsidy for procurement of Plant & Machinery and service equipments through institutional credit to the SC-ST MSEs without any sector-specific restrictions on technology upgradation
- To propel the sector’s contribution to the country’s gross domestic product (GDP).
Target Group:-
As the scheme aims to provide credit to the SC-ST MSMEs without any sector-specific restrictions, the main beneficiaries of the schemes are SC-ST entrepreneurs.
Key Points:-
- The scheme will ensure economic prosperity in the region.
- MSME’s contribution to the country’s GDP IS 30 % and MSME account for over 49% of India’s exports.
- Currently, the sector consists of over six crore units and employs over 11 crore people.
Other Initiatives to Promote MSME Sector
- The Ministry of Micro, Small & Medium Enterprises (M/o MSME) envisions a vibrant MSME sector by promoting growth and development of the MSME Sector, including Khadi, Village, and Coir Industries.
- The Micro Small and Medium Enterprises Development (MSMED) Act was notified in 2006 to address policy issues affecting MSMEs as well as the coverage and investment ceiling of the sector.
- Prime Minister’s Employment Generation Programme (PMEGP): It is a credit-linked subsidy scheme, for setting up of new micro-enterprises and to generate employment opportunities in rural as well as urban areas of the country.
- Scheme of Fund for Regeneration of Traditional Industries (SFURTI): It aims to properly organize the artisans and the traditional industries into clusters and thus provide financial assistance to make them competitive in today’s market scenario.
- A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE): The scheme promotes innovation & rural entrepreneurship through rural Livelihood Business incubators (LBI), Technology Business incubators (TBI), and Fund of Funds for start-up creation in the agro-based industry.
- Interest Subvention Scheme for Incremental Credit to MSMEs: It was introduced by the Reserve Bank of India wherein relief is provided up to 2% of interest to all the legal MSMEs on their outstanding fresh/incremental term loan/working capital during the period of its validity.
- Credit Guarantee Scheme for Micro and Small Enterprises: Launched to facilitate easy flow of credit, guarantee cover is provided for collateral-free credit extended to MSMEs.
- Micro and Small Enterprises Cluster Development Programme (MSE-CDP): It aims to enhance the productivity and competitiveness as well as capacity building of MSEs.
- CHAMPIONS portal: It aims to assist Indian MSMEs march into the big league as National and Global CHAMPIONS by solving their grievances and encouraging, supporting, helping, and hand-holding them.