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Fund corpus for Micro-Finance Development and Equity Fund doubled to Rs. 400 crore



HIGH LEVEL COUNCIL ON MICRO AND SMALL ENTERPRISES TO MONITOR IMPLEMENTATION OF RECOMMENDATIONS OF PRIME MINISTER’S HIGH-LEVEL TASK FORCE



EXTENSIVE SKILL DEVELOPMENT PROGRAMME FOR TEXTILE AND GARMENT SECTOR TO BE LAUNCHED

GENERAL BUDGET 2010-11



The Finance Minister, Shri Pranab Mukherjee, while presenting the Union Budget 2010-11, in the Lok Sabha today, announced that the corpus for the Micro-Finance Development and Equity Fund is being doubled to Rs. 400 crore in 2010-11. He stated that a loan agreement for US$ 150 million has been signed between the Government of India and the Asian Development Bank on 22nd December, 2009 for implementing the comprehensive Khadi Reforms Programme. This programme will cover 300 selected Khadi institutions.



The Finance Minister stated that to resolve a number of issues affecting the growth of the Micro, Small and Medium Enterprises Sector, the Prime Minister constituted a High-Level Task Force which held detailed discussions with all stake holders and drew up an agenda for action. A High Level Council on Micro and Small Enterprises will monitor the implementation of the recommendations and the agenda for action. The allocation for this sector is being increased from Rs.1,794 crore to Rs. 2,400 crore for the year 2010-11.



The Finance Minister announced that it is proposed to launch an extensive skill development programme in the textile and garment sector by leveraging the strength of existing institutions and instruments of the Textile Ministry. The resources of the private sector will also be harnessed by incentivizing training through an outcome based approach. Through these instruments, the Ministry of Textiles has set an ambitious target of training 30 lakh persons over 5 years.



Shri Mukherjee stated that the National Skill Development Corporation has approved three projects worth about Rs. 45 crore to create 10 lakh skilled manpower at the rate of one lakh per annum.  



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