Financial Support System towards Micro, Small and Medium Enterprises
Dr. Shailesh Gupta () and
Anurag Mathur ()
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Dr. Shailesh Gupta: Professor, IIMT Group of Colleges, Meerut.
Anurag Mathur: Assistant Professor, Pt. Deen Dayal Upadhyay Management College, Meerut.
Journal of Commerce and Trade, 2015, vol. 10, issue 1, pages 48-55
Micro, small and medium enterprises (MSMEs) play a important role in the industrial development of the country. These enterprises contribute to the countryâ€™s GDP and are a major part of countryâ€™s industrial production, exports, etc. These firms help in generating employment across the country and also restrict concentration of wealth in few hands . These enterprises construct an entrepreneurial substratum in the economy by developing and nurturing the talents, skills, etc. and helps out in the reduction of poverty. Due to high labour intensity, this sector has been provided a priority status by both the Central and the State Governments. The MSME sector in India is heterogeneous in nature, widely dispersed and mostly unorganised. It includes various types of production units ranging from khadi, coir & crafts to technologically viable industries. The MSMEâ€™s faced various challenges related to finance, operations, marketing, infrastructural, technological and legal. Various measures are taken by Government for the upliftment of MSMEâ€™s. Traditionally private funds from family & friends are single and largest source of finance but for the exploitation of MSMEâ€™s full potential there is a requirement of private equity. Support of entrepreneurs and Government is highly required for the development of Indian Economy. For this purpose Government has launched several supportive schemes such as Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), Credit Linked Capital Subsidy Scheme (CLCSS), Under Single Window Scheme financial requirements of MSMEâ€™s can be satisfied through single agency.
Keywords: MSME; EDP; MSMED; Private Equity; MSME financing; Support Schemes; Single Window Scheme; Credit Guarantee Fund Trust (search for similar items in EconPapers)
JEL-codes: G20 G21 Z0 (search for similar items in EconPapers)
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Persistent link: http://EconPapers.repec.org/RePEc:jct:journl:v:10:y:2015:i:1:p:48-55
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