Details of Progress on 12 Key Announcements by Hon'ble PM

S.No. Announcement Details Updated Status as on 01.09.2023
1 Launch of 59-minute loan portal to enable easy access to credit for MSMEs. In-principle approval of loans up to Rs. 1 crore through the portal. Portal link through GST portal.
  • 2, 47,273 numbers of loans, involving Rs. 85,194 crores have been sanctioned.
  • 2,28,273 numbers of loans, involving Rs. 68,729 crores have been disbursed.
2.1 (i) 2% interest subvention for all GST registered MSMEs, on incremental credit.
  • The scheme was in operation till 31.03.2021 with an allocation of Rs.975 Cr. SIDBI had been nominated as the nodal agency and operational guidelines were issued. Entire allocation of Rs. 975 crore (including SIDBI administrative fee) had been released to SIDBI for claim settlements and SIDBI settled claims received from 62 Banks/NBFCs.
  • As per the circular issued by O/o DCMSME, M/o MSME dated 12.08.2021, the scheme is no longer in operation.
2 (ii)Increase in interest rebate from 3% to 5% for exporters who receive loans in the pre-shipment and post-shipment period
  • The Interest Equalization Scheme was extended up to 31.03.2024 vide RBI circular dated 08.03.2022.
  • Revised rates for Interest equalization Scheme are 3% for MSME manufacturer exporters exporting under any HS lines and 2% for manufacturer exporters and merchant exporters exporting under 410 HS lines.
3.1 (i) Companies with turnover of more than Rs. 500 crore to be brought on the Trade Receivables e-Discounting System (TReDS) to enable entrepreneurs to access credit based on upcoming receivables.
  • Gazette notification issued.
  • A list of 5871 companies having turnover of more than Rs.500 crore was identified by the M/o Corporate Affairs (on 31.01.2023).
  • After filtering out companies which are registered on TReDS and which are Central Govt. Companies, out of the 5871 Companies identified by M/o Corporate Affairs for taking action, so far 1932 companies have registered themselves on the TReDS portal.
3.2 All CPSUs to be onboarded on TReDS Platform.
  • DPE has communicated to all CPSEs regarding on boarding of CPSEs on TReDS platform.
  • 196 CPSEs already on boarded on TReDS.
4 Central Public Sector Undertaking (CPSUs) units to make mandatory procurement of 25% instead of 20% from MSEs.
  • Gazette Notification issued.
  • All CPSEs/Departments/Ministries informed about this.
  • During 2023-24 so far, CPSUs have procured goods and services worth Rs 13,136.64 crore from 52,976 MSEs that worth out to be 40.37% of the total procurement.
5 CPSUs to make mandatory procurement of 3% from Women Entrepreneurs out of 25% mandatory procurement.
  • During 2023-24 so far, CPSUs have procured goods and services worth Rs 384.58 crore from 4,022 women MSEs that worth out to be 1.18% of the total procurement.
6 CPSUs to compulsorily be part of Public Procurement Portal GeM- Government e-Marketplace. CPSUs to get their vendors registered on GeM portal
  • 249 CPSUs/CPSBs has been on boarded /registered on GeM portal post 02.11.2018.
  • Instructions have been issued by DoE, Ministry of Finance, on August 24, 2020, making it mandatory for sellers providing goods and services to Central Government Organizations to be registered on GeM and obtain a unique GeM Seller ID which shall be invariably incorporated in every Supply Order / Contract / Agreement / Purchase order by all Central Government Organizations (excepting Railways and for order size less than INR 25 lakhs) with effect from 01.11.2020.
  • 52.45% of orders value on GeM portal is from MSEs.
7 20 Hubs and 100 Spokes in the form of Tool Rooms for Technological Upgradation to be established across the country with a fund allotment of Rs. 6000 crore.
  • Model DPRs developed for Technology Centres (TCs) and Extension Centres (ECs).
  • 40 locations for ECs have been approved. Out of these 40 ECs, Detailed Project Reports (DPRs) of 26 ECs have been approved.
  • During FY 2019-20, Rs.128 crore Grant-in-Aid (GiA) for creation of capital assets was released to Technology Centers (Hubs) for 22 ECs (Spokes). Further Rs. 48.469 crore Grant-in-Aid for creation of capital assets was released for 10 of these ECs as 2nd installment of the Project cost during the financial year 2020-21.GiA of Rs.24.58 Crore released during financial year 2021-22. During 2022-23, expenditure under the scheme is Rs.10 crore.
  • 18 Extension Centers have started training / assisting MSMEs. During the FY 23-24, till 31.08.2023, 18 of these Extension Centers have trained 6960 trainees and assisted 60 MSMEs.
  • Four Extension Centers established at Berhampur (Odisha), Jaipur, Nagaur (Rajasthan) and Srinagar (Jammu and Kashmir) inaugurated.
8 Clusters for Pharma MSMEs to be formed and supported with 70% Govt. of India assistance
  • Four proposals were received under the announcement. Out of the four, the proposals received from Indumati Pharma Pvt. Ltd Pune, was accorded its final approval on 26.03.2021 with
  • Project Cost of Rs.31,43,75,175/- and financial assistance of Rs.20 crore. Rs.18 crore has been released till 31.07.2022.
9 Only one annual return to be filed for 8 Labour laws and 10 Union regulations to simplify Government procedures.
  • Under the Unified Annual Return on Shram Suvidha Portal under 8 Labour Laws and 10 Central Rules, 3,15,997 Unified Annual Returns for the period from 01.11.2018 to 31.05.2023 have been filed by the establishments.
10 Computerized random allotment for visits to firms by Inspectors to simplify Government procedures.
  • Under the risk based computerised random allotment system through Shram Suvidha Portal, 3,46,489* establishments (including for MSME establishments) have been inspected through computerized random allotment system and all inspection reports have been uploaded on Shram Suvidha Portal, out of which 1,01,389* have been uploaded within 48 hrs.
    *figures for the period 01.11.2018 to 31.05.2023.
11 Environment Clearance and Consent to establish unit, under air pollution and water pollution laws, to be merged into a single consent. Return to be accepted on the basis of Self-Certification.
  • Central Pollution Control Board (CPCB) has issued the directions, already for the one step process of the EC and CTE to all the state governments under the provisions of Air and Water Act on 2nd November, 2018. However, the operations of the said directions were stayed by Hon'ble High Court of Delhi. As of now matter is sub-judice.
12 Ordinance has been promulgated to enable entrepreneurs to correct the minor violations under the Companies Act through simple procedures rather than to approach Courts.
  • Ordinance promulgated on 02.11.2018 by the Ministry of Corporate Affairs has now become COMPANIES (AMENDMENT) ACT, 2019. This enabled entrepreneurs to correct the minor violations under the Companies Act through simple procedures (imposition of penalty) rather than to approach Courts(imposition of fine/imprisonment ). All the cases in which hearing done by ROCs to impose penalty are uploaded on the Website of Ministry of Corporate Affairs.