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


S.No. Announcement Details Updated Status as on 02.05.2024
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.
  • 2,49,544 numbers of loans, involving Rs. 86,635 crores have been sanctioned.
  • 2,29,877 numbers of loans, involving Rs. 69,823 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 Crores. SIDBI had been nominated as the nodal agency and operational guidelines were issued. Entire allocation of Rs. 975 Crores (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 DC(MSME), 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 is extended upto 30.06.2024 vide RBI circular dated 22.02.2024 as per the appraisal done by Expenditure Finance Committee and approval given by the Cabinet.
  • 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.
  • As the budgetary outlay of Rs. 9538 Crores allotted to the scheme was not sufficient to cover the scheme up to 30.06.2024, a detailed proposal was made by the department and sent to EFC for approval. The Expenditure Finance Committee (EFC) approved the enhancement of outlay for Interest Equalisation Scheme to cover the period till 30.06.2024 with an additional outlay of Rs. 2500 Crores. While allowing the extension, the EFC has made the Scheme "Fund limited" and has directed that the expenditure under the Scheme shall be limited to the allocation of budget going forward.
  • In view of the above, the request for increase in interest rebate from 3% to 5% for exporters who receive loans in the pre-shipment and post-shipment period may not be considered at this time.
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 72,382.83 crores from 2,08,169 MSEs that worth out to be 35.75% 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 2,484.35 crores from 17,332 women MSEs that worth out to be 1.23% 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.
  • 46.94% 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.

The scheme has been approved for implementation up to 2025-26 with an estimate outlay of Rs.3500 crores, including Rs. 2500 crore for TCs Rs 1000 crores for ECs.

  • 20 locations selected and approved for setting up of TCs. Land for 18 locations finalized and for remaining 02 locations finalization of land is in process. Out of the finalised land for 16 locations:

    1. Land for 14 locations are in possession of the Office of Development Commissioner (MSME).
    2. For 04 locations, Letter of acceptance sent and land transfer is under progress.
    3. Land for 02 sites are under finalisation.
  • 40 locations for ECs have been approved. Out of these 40 ECs, Detailed Project Reports (DPRs) of 26 ECs have been approved.
  • 23 Extension Centers have started training / assisting MSMEs.
  • In the month of March 2024, Extension Centers established under the scheme have trained 1240 trainees and 42 No. of MSMEs have availed Technology Services of ECs.
  • From FY 2019-20 to FY 2023-24 (upto 01.04.2024) Rs. 221.0397 crore Grant-in-Aid (GiA) for creation of capital assets was released to Technology Centres and Extension Centres.
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 crores. Out of this 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, 4,32,633 Unified Annual Returns for the period from 02.11.2018 to 31.03.2024 have been filed by the establishments.
10 Computerized random allotment for visits to firms by Inspectors to simplify Government procedures.
  • Under the risk based computerized random allotment system through Shram Suvidha Portal, 4,20,020* establishment ( including for MSME establishments) have been assigned random allotment through computerized system. Out of which 1,15,954 * have been uploaded within 48 hrs and 2,90,005 have been uploaded after due date. Remaining 14,008 units assigned for inspection has yet to be submitted/lapse/under process.

    *figures for the period 02.11.2018 to 31.03.2024.
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.