SFURTI: Govt’s MSME cluster development scheme gives Rs 40 cr grant for this many clusters in FY24 so far

Posted under: MSME
Date: 2023-09-11
SFURTI: Govt’s MSME cluster development scheme gives Rs 40 cr grant for this many clusters in FY24 so far

The Indian government's SFURTI scheme, launched in 2005 and revamped in 2022, supports traditional industries and artisans by creating organized clusters. As of September 8, 2023, 15 clusters have been approved with a grant of Rs 40 crore, benefiting 8,875 artisans in the current financial year. The scheme offers assistance of up to Rs 2.5 crore for 'regular' clusters (up to 500 artisans) and up to Rs 5 crore for 'major' clusters (over 500 artisans), covering hard, soft, and thematic interventions. Hard interventions involve common facility centers, machinery, working capital, and more. Soft interventions include counseling, skill development, and participation in seminars. Thematic interventions focus on branding, e-commerce, and research at a sector level. In FY23, 62 clusters were commissioned, with an allocation of Rs 280 crore in the budget, a significant increase from the previous year's Rs 1.95 crore.

Read more at: www.financialexpress.com