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PIB NEWS ANALYSIS 02/06/2020

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1)GoI launches PM SVANidhi scheme:- On June 1, 2020, Government of India launched the Pradhan Mantri SVANidhi Scheme for street vendors. The Union cabinet has cleared the credit amount for the scheme as well.

The PM SVANidhi or PM Street Vendors Atmanirbhar Nidhi is a credit facility scheme that will help more than 50 lakh urban and rural street vendors. The scheme will help the street vendors restart their livelihoods.
Under the scheme, Rs 10,000 of credit is to be provided to street vendors. The street vendors shall return the amount as monthly installments within a year.

2)“Ultra Swachh” Booth developed by DRDO to disinfect PPEs:- The Defence Research Development Organization (DRDO) developed a disinfection unit called Ultra Swachh. The unit is used to disinfect articles such as electronic items, Personal Protective Equipment, fabrics, etc.

The Unit uses an advanced oxidative process called Ozonated Space Technology to disinfect the items. The device also uses Ozone Sealant Technology that involves trapping of Ozone.

3)Technology Platform called CHAMPIONS launched by PM Modi

On June 1, 2020, the Prime Minister Narendra Modi launched technology platform called CHAMPIONS. CHAMPIONS Stand for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength.

The portal aims to make smaller units big by supporting them, encouraging, solving their grievances, helping and handholding. It will act as one-stop shop solution of all entities of the MSME sector.

The portal aims at providing the following :-

Grievance Redressal: The portal will solve the problems of MSME. This mainly involves raw materials, finance, labour, regulatory permissions, etc.

The portal will help MSME sector capture new opportunities. This includes manufacturing of accessories, medical equipment, Personal Protection Equipment, mask etc.

4)

News: Union Cabinet has announced policy changes for the MSME sector as part of the Atmanirbhar Bharat package.

Facts:

  • Upward revision of MSME Definition: This will help in attracting investments and creating more jobs in the MSME sector:

Note: The turnover limits for micro, small or medium enterprises will not include the profits made from exports.

  • Distressed Asset Fund: A distress fund of Rs 20,000 crores has been set up.Under this, an MSME can avail a loan of maximum Rs 75 lakh or 15% of their total investment.
    • The Centre will provide a guarantee coverage of up to 85% for loans up to Rs 5 lakh and 75% for those above Rs 5 lakh to enable MSMEs to raise funds from financial institutions.
  • Fund of Funds for MSMEs: A Fund of Funds worth Rs 50,000 crore for MSMEs has been set up in which the central government will be an anchor investor to encourage private sector investments in the sector.

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