New Delhi Mar 30 PTI Prime Minister Narendra Modi on Wednesday hailed the Cabinet decision to approve a World Bank-assisted Rs 6062 crore funding programme for the small and medium businesses saying the government is taking many steps to add new energy into the MSME sector and support local enterpriseThe MSME Sector is crucial for Indias economic progress Our government is taking many steps to add new energy into the sector and support local enterprise Todays Cabinet decision is a step in this direction he tweetedThe Union Cabinet approved a World Bank-assisted Rs 6062 crore funding programme for the small and medium businesses to help improve their access to market and creditThe Cabinet Committee on Economic Affairs CCEA chaired by Prime Minister Modi approved the Rs 606245 crore or USD 808 million Raising and Accelerating MSM Performance RAMP for the micro small and medium enterprises MSMEs an official release saidRAMP will commence in FY23 it saidOf the total outlay under the programme Rs 3750 crore USD 500 million will come from World Bank loan and the remaining Rs 231245 crore will be funded by the central government PTI ASK ANB ANB
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