The Union Cabinet approved a USD 808 million or Rs 6,062.45 crore, World Bank assisted programme on “Raising and Accelerating MSME Performance” (RAMP).
- RAMP is a new scheme and would commence in FY 2022-23.
- “Raising and Accelerating MSME Performance” (RAMP) is a World Bank assisted Central Sector Scheme.
- It has been launched to support various Resilience and Recovery Interventions of the Ministry of Micro, Small and Medium Enterprises (MoMSME).
- In addition to building the MoMSME’s capacity at the national level, the RAMP program will seek to scale up implementation capacity and MSME coverage in States.
- The programme aims at improving access to market and credit, strengthening institutions and governance at the Centre and State, improving Centre-State linkages and partnerships, addressing issues of delayed payments and greening of MSMEs.
- RAMP will function as a:
- ’Policy Provider’’ through the enhanced capacity for evidence-based policy and program design, to enable the delivery of more effective and cost-efficient MSME interventions to improve competitiveness and business sustainability.
- “Knowledge Provider” through bench-marking, sharing and demonstrating best practices/success stories by leveraging international experiences.
- “Technology Provider” by providing access to high-end technology resulting in the digital and technological transformation of MSMEs through state of art Artificial Intelligence, Data Analytics, Internet of things (IoT), Machine Learning etc.
- RAMP was formulated and proposed by the Government of India, for strengthening MSMEs in line with the recommendations made by U K Sinha Committee, KV Kamath Committee and Economic Advisory Council to the Prime Minister (PMEAC).