MSME Min demands Rs 64K-cr for 12th Plan
The MSME sector, comprising 26 million units, has been facing major impediments like non-availability of easy credit, poor infrastructure, technology and lack of marketing support.
During the Plan period (2012-17), the Ministry will give "due consideration" to overcome these hurdles which stop Indian MSMEs from becoming global suppliers of competitive and innovative products, it said while seeking Rs 64,790 crore for the sector during the plan period.
Official sources said the budgetary support is granted under five basic segments or verticals – credit and finance, technology, infrastructure, marketing, skill Development and institutional structure.
The overall growth for the sector stood at around 13 per cent during the 11th Plan.
"We will try to make different schemes and components under these verticals so that the funds do not get surrendered, even if one of the components is not doing well.
The money will be diverted to component which is doing well," said a source said.
During the 11th Plan, the MSME ministry was granted around Rs 11,000 crore. Some officials said however that around Rs 25,000-30,000 crore may get allocated for 12th Plan, as the sector is important for the growth of the economy.