DAILY NEWS ANALYSIS

GS-III : Economic Issues MSME

03 December, 2021
5 Min Read

SFURTI Scheme

50 artisan-based clusters were recently inaugurated through the SFURTI Scheme (Scheme of Fund for Regeneration of Traditional Industries) in 18 States.
Ministry of MSME is implementing an SFURTI scheme with a view to organizing traditional industries and artisans into clusters to make them competitive and increase their income.
Ministry of MSME, which aims to support at least one cluster in each district in the future.
SFURTI clusters are of two types i.e.,
1. Regular Cluster (500 artisans) with Government assistance of up to Rs.2.5 crore and
2. Major Cluster (more than 500 artisans) with Government assistance up to Rs.5 crore.
The artisans are organized into SPVs which can be
1. Society registered under Societies (Registration) Act, 1860,
2. Co-operative Society under an appropriate statute,
3. Producer Company under Section 465 (1) of Companies Act, 2013,
4. Section 8 Company under the Companies Act, 2013 or
5. It can also be a Trust.
Under the Scheme, the Ministry supports various interventions including setting up of infrastructure through Common Facility Centers (CFCs), procurement of new machinery, design intervention, etc.
Besides, the scheme focuses on strengthening the cluster governance systems with the active participation of the stakeholders.

Source: PIB

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