Page 12 - IMDR - Journal of Management Development and Research - March2019-20

The Cluster-based approach is adopted for economy of scale, better
dissemination of QMS/QTT and for best results. However, individual units

(preferably from specific products in groups) may also be considered under
the Scheme. Micro & Small enterprises is being selected from the clusters

under study or intervention by this Ministry and clusters identified by other
Organization and Ministries also.

 NIRVIK
NIRVIK (Niryat Rin Vikas Yojana) scheme to provide enhanced insurance

cover and reduce premium for small exporters.

To achieve higher export credit disbursement, a new scheme NIRVIK is being
launched which provides for high insurance cover, reduction in premium for

small exporters and simplified procedures for claim settlements

CONCLUSION & SUGGESTION: -

 Allocation of funds for Research & Development sector should be more.

It must be similar investment like USA and china.
 Government should focus on development of rural areas.

 Financing the MSME’s should be made easier.

 MSME’s will boost the economy if necessary, steps are taken.

 To hit the $5 trillion economy the contribution of MSME’s will be an
advantage.

 More importance should be given to entrepreneurship.

 The allocation for MSME Ministry, allocated 7572 crores for the FY 2020-21.
An increase of 8% from the FY 2019-2020.

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