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Over 14 crore jobs have been reported to date by 2.7 crore registered micro, small and medium enterprises (MSMEs) underneath the Ministry of MSMEs’ Udyam portal. As of Thursday, the platform confirmed a complete employment rely of 14.03 crore. The figures embody 13.12 crore jobs from 1.93 crore MSMEs straight registered on the Udyam portal and a further 91.10 lakh jobs from 77.97 lakh items registered via the Udyam Help Platform (UAP).
Udyam, a web-based platform launched by the MSME Ministry in 2020, facilitates the registration of MSMEs. Udyam registration is a free, solely digital, and paperless course of based mostly on self-declaration. It’s a prerequisite for accessing advantages from the Ministry of Micro, Small & Medium Enterprises, together with the Credit score Assure Scheme, public procurement coverage, benefits in Authorities Tenders, and safety towards delayed funds.
Upon profitable registration, an e-certificate often called the “Udyam Registration Certificates” is issued on-line. Registration requires Aadhaar, PAN, and GST numbers. The Udyam portal additionally integrates with Earnings Tax and GST Identification techniques and the federal government e-marketplace. Funding and turnover particulars are routinely retrieved from authorities databases.
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In accordance with a Monetary Specific report, the platform witnessed a outstanding enhance of over 1 crore jobs in just below a month. The portal surpassed the 13-crore reported job mark in August.
In accordance with information shared by the Minister of State within the MSME Ministry Bhanu Pratap Singh Verma in Rajya Sabha, within the aftermath of the COVID-19 pandemic, a complete of 63,248 people employed within the MSME sector misplaced their jobs from July 1, 2020, to July 20, 2022. This determine consists of 19,862 job losses within the fiscal 12 months 2021 and 42,662 within the fiscal 12 months 2022. Whereas, as much as July within the fiscal 12 months 2023, 724 extra job losses have been reported.
In the course of the funds session, Minister Verma mentioned that the federal government doesn’t preserve complete information on job losses within the Micro, Small, and Medium Enterprises (MSME) sector resulting from its presence in each formal and casual financial sectors.
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