: SFURTI clusters commissioned in FY22, highest in seven years: Govt data #FinanceIndia #StockMarketNEWS SFURTI clusters commissioned in FY22, highest in seven years: Govt data New Delhi, April 11 (KNN)

@StockMarketNEWS Tue 12 Apr, 2022

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SFURTI clusters commissioned in FY22, highest in seven years: Govt data #FinanceIndia #StockMarketNEWS
SFURTI clusters commissioned in FY22, highest in seven years: Govt data New Delhi, April 11 (KNN) The number of MSME clusters inaugurated or commissioned during the financial year 2021-22 under the government’s Scheme of Funds for Regeneration of Traditional Industries (SFURTI) was the highest in the past seven years.

According to the data from the MSME Ministry’s dashboard, 107 clusters were commissioned with a grant of Rs 302 crore in the last financial year under the SFURTI programme that organizes traditional industries and artisans into clusters to boost competitiveness and provide employment.

Since FY16, total 251 clusters have been commissioned, 95 in FY21 and 19 in FY20, out of 498 approved with a Rs 1,296 crore grant.

However, the employment count had dropped in FY22. The number of artisans employed across 107 clusters declined 3 percent to 61,332 from 63,539 artisans benefitting in FY20 and 84,720 in FY20.

Also, the grant extended in FY22 was lower than Rs 325 crore and Rs 398 extended by the government in FY21 and FY20 respectively, according to the data.

The SFURTI scheme offers financial support of up to Rs 2.5 crore to ‘regular clusters’ with up to 500 artisans, and up to Rs 5 crore for ‘major clusters’ with more than 500 artisans. Moreover, the artisans are organized into special purpose vehicles (SPVs) The purpose of SPV is to develop and sustain the cluster after the project implementation period is over.

The commissioned projects so far includes clusters for coir, crafts, bamboo, embroidery, khadi, pottery, bee keeping, and more across Madhya Pradesh, Kerala, Odisha, Assam, Karnataka, Maharashtra etc. (KNN Bureau)

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