Ease of Doing Business for MSMEs: Finance Minister Nirmala Sitharaman presenting the Union Budget 2022 on Tuesday said that portals such as Udyam, e-Shram, National Career Service (NCS) and Atmanirbhar Skilled Employee-Employer Mapping (ASEEM) will be interlinked. The minister said the interlinking will widen their scope. “They will now perform as portals with live, organic databases, providing G2C, B2C and B2B services. These services will relate to credit facilitation, skilling, and recruitment with an aim to further formalise the economy and enhance entrepreneurial opportunities for all,” Sitharaman said in her budget speech.

“It will further reduce paperwork and make it easier to access information seamlessly once interlinked. It will also help banks in accessing relevant and updated information more easily. Since due to Covid, it has been difficult for everyone to move around, the interlinking will facilitate ease of finding data about a particular service. This will help entrepreneurs particularly those running small enterprises in order to focus more on their business and also enable new businesses to come up with access to workforce,” Dinesh Rai, Former Secretary, Ministry of MSME and Founder Chairman, Alliance of Indian MSMEs told Financial Express Online.

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While Udyam is the new portal launched by the government for the registration of businesses as MSMEs, e-Shram was created to develop a national database of unorganised workers. On the other hand, NCS offers a variety of employment-related services like job search, job matching, career counselling, vocational guidance, information on skill development courses, apprenticeship, internships etc., online. Lastly, the ASEEM portal acts as a platform that matches the supply of skilled workforce with the market demand to facilitate better livelihood opportunities for youth. 

The Finance Minister in her speech also announced the extension of the ECLGS scheme for MSMEs till March 2023 with a total limit enhanced to Rs 5 lakh crore and revamping of the CGTMSE scheme that will facilitate additional Rs 2 lakh crore credit to micro and small enterprises and expand employment opportunities.