NITI Aayog Proposes Convergence of 18 MSME Schemes to Improve Efficiency

NITI Aayog has proposed converging 18 overlapping government schemes for micro, small, and medium enterprises (MSMEs) to improve coordination, reduce duplication, and enhance beneficiary access. The report highlights fragmentation across ministries affecting scheme outcomes and recommends a two-pronged approach: information convergence through integrated data systems and process convergence by aligning similar initiatives. It also suggests an AI-powered central digital portal to streamline scheme information, compliance, finance, and market support, while preserving flagship programmes like PMEGP and PM Vishwakarma.