Facts for Prelims (FFP)
Source: PIB
Context: Recently three sub-schemes were introduced as part of the RAMP (Rejuvenation, Acceleration, and Mitigation of Pandemic) program.
- These schemes focus on supporting Micro, Small, and Medium Enterprises (MSMEs) and addressing key challenges they face.
About the schemes:
- The first scheme, MSE GIFT, aims to encourage green investment and provide financing for the transformation of MSMEs.
- The second scheme, MSE SPICE, is designed to promote and invest in the circular economy, emphasizing sustainable practices.
- Lastly, the MSE scheme on Online Dispute Resolution for Delayed Payments focuses on resolving payment delays through online dispute resolution mechanisms, facilitating smoother financial transactions for MSMEs.
These sub-schemes collectively contribute to the broader goal of boosting the MSME sector and fostering sustainable business practices.
