Prime Minister Narendra Modi on Thursday launched the Rs 6,062.45-crore World Bank assisted central government programme Raising and Accelerating MSME Performance (RAMP) scheme for MSMEs, three months after it was approved by the Cabinet chaired by PM Modi. The five-year RAMP scheme will begin in the current financial year 2022-23 even as it was announced back in 2020 by the government and the World Bank to support Covid-hit MSMEs in their business recovery. 

Addressing ‘Udyami Bharat’ programme in New Delhi, PM Modi said, “18,000 MSMEs have been digitally transferred over Rs 500 crore and over Rs 1,400 crore has been released under Rs 50,000 crore Self-Reliant India Fund for MSMEs. MSMEs play a big role in the country’s progress. Around one-third contribution to India’s GDP comes from MSMEs. If India earns Rs 100, Rs 30 is because of MSMEs. Strengthening the MSME sector benefits everyone.