Micro, small and medium enterprises (MSME) are considered as backbone of the Indian economy. They not only provide large scale employment, but also contribute immensely to economic growth. In this article you can find all MSME benefits given by government of India.
MSME scheme provides various economic benefits to these enterprises.
An organization is categorized as micro, small and medium based on its turnover and investment.
Read here MSME definition and classification
In this article we will discuss about MSME Benefits available to the enterprise that got them registered as MSME with government.
What are MSME benefits ?
Any enterprise can register with MSME Act. To receive MSME benefit, it is mandatory to register with MSME act.
One can register here with MSME.
There are various schemes run by government for MSME development. The list of such schemes are given below in the article.
The main MSME benefits of registration are mentioned below:-
Collateral free loan from financial Institutions & banks
Under various schemes MSME can avail loan from banks without any security. The MSME needs to fulfill the eligibility criteria for availing such loan.
Reservation Policy
As per Regulation act, 1951, some products are reserved for MSME to manufacture. This give them exclusive opportunity to grow and compete.
Ease of License
To start a business, it requires many license for various activities. MSME are given concession in approval process.
Waiver of Direct taxes
Under various sections of income tax act, MSME are given many tax exemptions.
Protection against dues
All sum due to MSME for sale of goods & services needs to pay within the agreed time or within 45 days. If not paid within this time limit then the buyer needs to pay dues with interest.
Low Interest rate on Loan
MSME are also given loan on low interest rates
Assistance for new innovation
Incubation scheme provides assistance to the innovators who provide new innovative ideas & product.
Concession on Electricity Charges
Concession on Electricity bills has also been provided to MSME
Various schemes under MSME
You can click here for various schemes under MSME.
The list is also provided below.
|
Sl. No. |
Scheme Name |
|
1. |
Prime Minister Employment Generation Programme and Other Credit Support Schemes |
|
1.1. |
|
|
1.2. |
Credit Guarantee Trust Fund for Micro & Small Enterprises (CGTMSE) |
|
1.3. |
|
|
2. |
Development of Khadi, Village and Coir Industries |
|
2.1. |
|
|
2.2. |
|
|
2.3. |
Revamped Scheme Of Fund for Regeneration Of Traditional Industries (SFURTI) |
|
2.4. |
|
|
2.4.1. |
|
|
2.4.2. |
|
|
2.4.3. |
|
|
2.4.4. |
|
|
2.4.5. |
|
|
2.4.6. |
Trade and Industry Related Functional Support Services (TIRFSS) |
|
2.4.7. |
Welfare Measures (Pradhan Mantri Suraksha Bima Yojana (PMSBY)) |
|
3. |
Technology Upgradation and Quality Certification |
|
3.1. |
|
|
3.2. |
A Scheme for Promoting Innovation, Rural Industry & Entrepreneurship (ASPIRE) |
|
3.3. |
|
|
3.3.1. |
|
|
3.3.3. |
|
|
3.3.4. |
|
|
3.3.5. |
|
|
3.3.6. |
|
|
3.3.7. |
Entrepreneurial and Managerial Development of SMEs through Incubators |
|
3.3.8. |
Enabling Manufacturing Sector to be Competitive through QMS&QTT |
|
3.3.9. |
|
|
4. |
Marketing Promotion Schemes |
|
4.1. |
|
|
4.2. |
|
|
4.3. |
|
|
5. |
Entrepreneurship and skill Development Programme |
|
5.1. |
|
|
5.2. |
|
|
6. |
Infrastructure Development Programme |
|
6.1. |
|
|
7. |
Scheme of Surveys, Studies and Policy Research |
|
7.1. |
Revised guidelines (bilingual) of scheme SS&PR with effect from 15-10-2018. (Download English) & (Download Hindi) |
|
8. |
National SC-ST-HUB |
|
8.1. |
National SC-ST-HUB (Download English) & (Download Hindi) |
|
9. |
Scheme of Information, Education and Communication |
|
9.1. |
Scheme of IEC Guideline(Download English) |
Hope you have got all required in formation on MSME benefits.
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