Description
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Context:
- Union Minister of MSME chaired the 19th meeting of the National Board of MSME (NBMSME) held in New Delhi.
NBMSME:
Establishment:
- The National Board for Micro, Small & Medium Enterprises (NBMSME) was established/notified for the first time on 15th May 2007.
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Composition:
- It consists of 47 members including Chairman, Vice Chairman and Member Secretary in accordance with the Sub Section 1 of Section 3 of the MSMED Act, 2006 and National Board for Micro, Small & Medium Enterprises Rules, 2006.
- Of the 47 members - 18 are Ex-officio members and the rest of the 29 members- have a tenure of members is for two years from the date of notification).
- The Minister in charge of the Ministry of MSME is ex-officio Chairman of the National Board.
Salient Features of the NBMSME:
- Has statutory backing.
- Provides representation to all sections/segments including Associations of Micro, Small and Medium manufacturing and service enterprises, women enterprises, Central Ministries, States representing different regions of the country, trade unions, etc.
- Quarterly meeting of the Board mandatory as per MSMED Act, 2006 - the Board has met six times from the date of its establishment.
Functions of the National Board:
- Examine the factors affecting the promotion and development of Micro, Small & Medium Enterprises.
- Review the policies & programs of the Central Government in regard to facilitating the promotion & development & enhancing the competitiveness of such enterprises and the impact thereof on such enterprises.
- Make recommendations to the Central Government for facilitating the promotion and development and enhancing the competitiveness of the micro, small and medium enterprises.
- Advice the Central Government on the use of the Fund or Funds constituted under section 12 of MSMED Act 2006 dated 16th June, 2016.
Read A to Z about MSME Sector: https://www.iasgyan.in/daily-current-affairs/msme-sector-21
https://pib.gov.in/PressReleasePage.aspx?PRID=1890434
