Jaitley to launch MSME databank, finance facilitation centres

August 11, 2016 08:07

Finance Minister Arun Jaitley will launch a databank to gather information about micro, small and medium enterprises today besides Online Finance Facilitation Centres to provide collective funding options for MSMEs.

"Through the databank, we shall carry out a census of MSMEs online for the first time. The move to go online will help save money as the previous census conducted in 2008 cost Rs 50 crore, whereas this one is expected to be completed in just around Rs 1 crore," MSME Secretary K K Jalan said.

"Moreover, this time, we will also be capturing data of MSME Associations. The census process will start formally today with the launch of the data bank," he added.

Armed with the data, MSME Ministry will be able to plan development activities and incentive programmes in an improved manner.

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