NSIC signs MOU with Ministry of MSME

Question: What is the full- form of NSIC?
(a) National Small Institute Corporation.
(b) National Small Industries Corporation.
(c) National Small Industries Corporations Limited.
(d) National Small Scale Industries Corporation Limited.
Answer: (c)
Related facts:

  • The National Small Industries Corporation Limited (NSIC) signed a Memorandum of Understanding (MOU) with Ministry of Micro, Small and Medium Enterprises (MSME) for the year 2019-20.
  • The MOU was signed by Ram Mohan Mishra, AS & DC(MSME) and CMD (NSIC) with Dr. Arun Kumar Panda, Secretary, MSME.
  • The MOU envisages provision of enhanced services by NSIC under its marketing, financial, technology and other support services schemes for MSMEs in the country.
  • The Corporation projects to increase Revenue from Operation by 22% from Rs. 2540 crore in the year 2018-19 to 3100 crore in the year 2019-20. NSIC also projects growth of 32% in Profitability during the year 2019-20.
  • The Corporation also plans to enhance its activities in the areas of imparting entrepreneurship and skill development training by targeting 45% growth in the number of trainees.
  • Under the scheme of National SC-ST Hub being implemented by NSIC on behalf of the Ministry of MSME, it will be a continued endeavour to provide assistance to SC/ST entrepreneurs through different interventions and various outreach activities with the overall objectives to increase their participation in public procurement.

Links:
http://pib.nic.in/PressReleseDetail.aspx?PRID=1572748

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