Contribution of MSMEs to GDP shows continuous fall

On the basis of the data on GDP published by Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation (MoSPI) and final results of the latest Census (Fourth Census), conducted (with base reference year 2006-07), wherein the data was collected till 2009 and results published in 2011-12, the estimated contribution of manufacturing MSME sector to GDP during 2008-09, 2009-10, 2010-11, 2011-12 & 2012-13 are 7.52%, 7.45%, 7.39%, 7.27% & 7.04% respectively, as per the revised methodology suggested by CSO, MoSPI.

Government is aware of the problems being faced by the MSME sector in the country which relate to credit, infrastructure, technology, marketing, skill development etc. The Government strengthens and develops MSMEs in the country through implementation of various schemes / programmes relating to credit, infrastructure development, technology upgradation, marketing, entrepreneurship & skill development etc. The major schemes include Credit Guarantee Scheme, Credit Linked Capital Subsidy Scheme, Cluster Development Programme, National Manufacturing Competitiveness Programme, Prime Minister's Employment Generation Programme, Entrepreneurship & Skill Development Programme and Performance & Credit Rating Scheme.

 

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