28 May 2019: UPSC Exam PIB Summary & Analysis

Read the daily PIB update and stay up-to-date on current affairs for the UPSC exam

May 28th 2019 PIB:-Download PDF Here

NSIC signs MOU with Ministry of MSME

Context

  • The National Small Industries Corporation Limited (NSIC) signed a Memorandum of Understanding (MOU) with Ministry of Micro, Small and Medium Enterprises (MSME).

Significance of MOU

  • The MOU envisages provision of enhanced services by NSIC under its marketing, financial, technology and other support services schemes for MSMEs in the country
  • The Corporation projects to increase Revenue from Operation by 22%.
  • NSIC also projects growth of 32% in Profitability during the year 2019-20.
  • The Corporation also plans to enhance its activities in the areas of imparting entrepreneurship and skill development training by targeting 45% growth in the number of trainees.

National SC-ST Hub

  • The scheme of National SC-ST Hub being implemented by NSIC on behalf of the Ministry of MSME,
  • NSIC will be a continued endeavour to provide assistance to SC/ST entrepreneurs through different interventions and various outreach activities with the overall objectives to increase their participation in public procurement.

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