International Journal of Financial Management and Economics
Vol. 5, Issue 1 (2022)
The role of government policy and entrepreneurship development programs in micro, small & medium sized enterprises in India: An overview
Dr. Suresh Kumar and Anoop Kumar
For the development and growth of the country, the government must actively promote the development of the organisation. Small and medium enterprises (MSMEs) among for-profit companies deserve special attention. SMEs are small investment companies with enormous stakes. The sector contributes over 28% of the GDP and almost 45% to the manufacturing output. The most common organisational model in many countries, the Ministry of Small and Medium Enterprises (MSMEs), is crucial to developing a market economy. It employs almost 111 million people. The sector acts as the instrument of inclusive growth, empowering the most vulnerable and marginalised groups. There are around 6.3 crore MSME units in the country, with over 99% categorised as small units (as per the original definition). The choice depends on many factors, including public attitudes toward entrepreneurs—human structure, Size and role of Current government, level of entrepreneurial activity and prevalence of existing MSMEs. The present study evaluates government policies for MSME and how these companies work under these policies and support. This paper aims to review government policies and SME development in India 2020-21 and measure performance and business engagement. The article used the approach of secondary data with an analytical approach. To fulfil the study’s objectives.
Dr. Suresh Kumar, Anoop Kumar. The role of government policy and entrepreneurship development programs in micro, small & medium sized enterprises in India: An overview. Int J Finance Manage Econ 2022;5(1):69-74. DOI: 10.33545/26179210.2022.v5.i1.121