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MSME Schemes Details
MSME stands for Micro, Small and Medium Enterprises. MSME is a government scheme and its main goal is to provide benefits to small scale enterprises so they can get a boost in a competitive business world. MSME schemes for the service sector help new entrepreneurs to set up their business under the MSME loan schemes.
The Micro, Small, and Medium Enterprises (MSME) sector have emerged as a highly vibrant and
dynamic sector of the Indian economy. It contributes significantly to the economic and social development of the country by fostering entrepreneurship and generating the largest employment opportunities at comparatively lower capital cost, next only to agriculture. MSMEs are complementary to large industries as ancillary units and this sector contributes significantly to the inclusive industrial development of the country.