Government announces Rs 50,000 Crore Fund of Funds to boost MSMEs
Government announces Rs 50,000 Crore Fund of Funds to boost MSMEs

Government announces Rs 50,000 Crore Fund of Funds to boost MSMEs

  • Finance Minister Nirmala Sitharaman announced that the government will infuse Rs 50,000 cr into MSMEs through a Fund of Funds as part of the economic package to overcome the economic stagnation brought about by the Covid-19 pandemic.
  • The Fund of Funds will be set up with a corpus of Rs 10,000 crore and will provide equity funding for MSMEs with growth potential and viability.
  • It will be operated through a Mother Fund and few daughter funds.
  • The fund structure will help leverage Rs 50,000 cr of funds at daughter funds level.
  • Will help to expand MSME size as well as capacity.
  • Will encourage MSMEs to get listed on main board of Stock Exchanges.

About MSME-

  • The Ministry of Micro, Small and Medium Enterprises, a branch of the Government of India, is the apex executive body for the formulation and administration of rules, regulations and laws relating to micro, small and medium enterprises in India.
  • Minister of MSMEs – Nitin Gadkari
  • Minister of State – Pratap Chandra Sarangi

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