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BUSINESS
MSME ministry plans to triple raw material assistance for small businesses by FY30
The government plans to raise NSIC’s raw material procurement assistance to 900,000 tonnes a year from 300,000 tonnes as supply disruptions and price volatility squeeze small businesses.
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- Why it matters
- Small businesses face supply disruptions and price volatility; increased government procurement assistance would reduce their exposure to market price swings and supply shortages.
- Most affected
- Small manufacturers and traders reliant on NSIC procurement schemes — Access to three times more government-backed raw materials at potentially stable prices.
- Likely next
- Whether NSIC's budget allocation increases to support this procurement target in the next fiscal year announcement.