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

S.No. Announcement Details Updated Status as on 01.11.2022
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.
  • 2,43,140 numbers of loans, involving Rs. 82,962 crores have been sanctioned.
  • 2,25,236 numbers of loans, involving Rs. 67,007 crores have been disbursed.
2.1 (i) 2% interest subvention for all GST registered MSMEs, on incremental credit.
  • SIDBI has been nominated as the nodal agency. Operational guidelines issued.
  • SIDBI has written to all the Scheduled Commercial Banks and NBFCs to operationalize the order.
  • RBI has issued the necessary circular in this regard on 21.02.2019.
  • A budget has been released towards the corpus of SIDBI.Out of the total corpus of Rs. 975 crore, so far a sum of Rs. 975 crore (including SIDBI administrative fee) has been released to SIDBI for claim settlements.
  • SIDBI has received and settled the claims of Rs. 975 crores from 62 Banks/NBFCs.
  • Further, it is inform that this scheme is no longer in operation as advised by O/o DCMSME, M/o MSME wide circular dated 12.08.2021.
2.2 (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 upto 31.03.2024 vide RBI circular dated 08.03.2022 as per the appraisal done by Expenditure Finance Committee and approval given by the Cabinet Committee on Economic Affairs (CCEA).
  • 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.
  • A sum of Rs. 2621.5 cr has been allocated under BE 2022- 2023 for the scheme out of which, a sum of Rs. 2806.92 cr has been released to RBI till 30.08.2022
  • In order to capture granular data about the beneficiaries of the scheme and its effective monitoring, a new online module for filing electronic registration for Interest Equalization Scheme was operationalised w.e.f. 01.04.2022 vide DGFT's Trade Notice No. 38/2021-22 dated 15.03.2022.
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 4714 companies having turnover of more than Rs.500 Crore was identified by the M/oCorporateAffairs (in April 2021). After filtering out companies which are registered on TReDS and which are Central Govt. Companies (for Central Public Sector Enterprises, D/o Public Enterprises, Govt. of India shall be competent authority for monitoring compliance as per Notification No.SO.5621(E) dated 02.11.2018 issued by M/o MSME), out of these 4714 Companies identified by M/o Corporate Affairs for taking action, so far 1673 companies have registered themselves on the TReDS portal.
  • Letters issued to all RDs/ROCs to call meeting of companies with turnover of Rs. 500 cr. and above and ensure that all such companies are on boarded on TReDS platform.
3.2 All CPSUs to be onboarded on TReDS Platform.
  • DPE has communicated to all CPSEs regarding on boarding of CPSEs on TReDS platform.
  • 195 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 2022-23 so far, CPSUs have procured goods and services worth Rs 25,872.34 crore from 95,454 MSEs that worth out to be 33.56% of the total procurement.
5 CPSUs to make mandatory procurement of 3% from Women Entrepreneurs out of 25% mandatory procurement.
  • During 2022-23 so far, CPSUs have procured goods and services worth Rs 659.29 crore from 4,504 women MSEs that worth out to be 0.86% 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
  • 239 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.
  • Total 8,18,076 MSE Sellers & Service providers registered on GeM portal.
  • 55.23% 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).
  • 35 locations for ECs have been approved. Out of these 35 ECs, Detailed Project Reports (DPRs) of 26 ECs have been approved.
  • 18 ECs have started training / assisting MSMEs. In the month of August 2022, 15 ECs have trained 1549 trainees and assisted 38 MSMEs.
  • 20 locations have been approved for setting up Technology Centres. Out of these 15 locations, Land at four sites is in possession of the Office of Development Commissioner (MSME) and 4 locations are at lease deed stage. Land transfer is in process at 7 other sites. On 5 other locations identification/finalization of land is in process.
8 Clusters for Pharma MSMEs to be formed and supported with 70% Govt. of India assistance
  • The proposals were received from all the 4 districts viz. Aurangabad, Pune, Solan (Baddi) and Indore. The status of each proposal is given below.
  • The proposal received from Indumati Pharma Pvt. Ltd., Pune was accorded its final approval on 26.03.2021.Details of the Project is as follows:-
    • Project Cost:- 31,43,75,175/-
    • Financial Assistance to be given:- Rs. 20.00 cr.
    • Amount released:- Rs. 18 cr. has been released till 31.07.2022.
  • The Proposal received from Government of Himachal Pradesh for providing financial assistance for an existing Pharma Testing Lab Solan (Baddi) has been dropped from the list on the request of Government of Himachal Pradesh.
  • The Proposal received from Marathwada Pharma Cluster, SPV, Aurangabad for setting up a Pharma Cluster in the Marathwada region of Maharashtra has been rejected.
  • The proposal received from the Department of MSME, Government of Madhya Pradesh regarding the project from M.P. Small Scale Drug Manufacturer’s Association has been rejected.
9 Only one annual return to be filed for 8 Labour laws and 10 Union regulations to simplify Government procedures.
  • All the Regional Heads were advised to vigorously reach out to the employers in their region to make them aware about the facility of filing of Online Unified Annual Return on Shram Suvidha Poral under 8 Labour Laws and 10 Central Rules.
  • Under the Unified Annual Return on Shram Suvidha Portal under 8 Labour Laws and 10 Central Rules, 2,36,072 Unified Annual Returns for the period from 01.11.2018 to 30.06.2022 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, 2,57,821* 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 81,292* have been uploaded within 48 hrs.

    *figures for the period 01.11.2018 to 30.06.2022.
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) hasissued 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.