Enhanced credit guarantee coverage under CGTMSE to benefit 27 lakh women-led MSMEs: Manjhi

New Delhi: Union Minister for Micro, Small and Medium Enterprises Jitan Ram Manjhi on Monday said that women-owned micro and small enterprises will get enhanced credit guarantee coverage of 90 per cent under the Credit Guarantee Fund Trust for Micro and Small Enterprises ( CGTMSE) scheme.

The decision is expected to benefit 27 lakh women-led MSMEs, he said.

A grand programme is being organised in Wardha, Maharashtra, on September 20 to mark one year of the PM Vishwakarma Scheme, the Minister said.

The MSME minister said 5.07 crore MSMEs have now been formalised, with the total number of jobs created reaching 21 crore.

Under the Prime Minister Employment Generation Programme (PMEGP), approvals have been accorded during the past 100 days whereby 26,426 new micro enterprises have been established with loan disbursements of Rs 3,148 crore, the MSME ministry stated.

The move is expected to generate income and employment for over 2.11 lakh people, with enhanced rural and urban entrepreneurship, it said.

Manjhi said the ministry is in the process of establishing 14 technology centres across the country, including Nagpur, Pune, and Bokaro, with an investment of Rs 2,800 crore. One lakh MSMEs will benefit from technology access, and 3 lakh youth will be trained in the next five years," the ministry stated on the expected outcome of the 14 new technology centres.