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18 Aug, 2020

7 Min Read

Plug and play Business model

GS-III : Economic Issues Government policies and interventions

Plug and play Business model

  • The government intends to promote the scheme of ‘plug and play for further fast-tracking investment proposals, especially for projects having substantial foreign investment.

About plug and play

  • ‘Plug and play’ concept normally refers to ready facilities in terms of building, power-water-sewage connectivity, road connectivity, beside other basic things including clearances in hand required to start the industry.
  • This concept gained ground in 2015 when the then Finance Minister Arun Jaitley said in his Budget speech that the government proposes to set up five new Ultra Mega Power Projects, each of 4000 MWs in the plug-and-play mode.

Need of the hour:

  • This approach is being considered at a time when many companies are moving out of China and looking for alternatives.
  • The government feels with the corporate tax rate of 15 per cent for newer manufacturing units along with the good number of skilled workforce and availability of land resources in various parts of the country, make India an attractive destination.
  • Also, there is a need for more investments to restart the pandemic lockdown-affected industry .

Source: TH

Bank of schemes, ideas, innovation & research portal on MSMEs

GS-III : Economic Issues MSME

Bank of schemes, ideas, innovation & research portal on MSMEs

  • Micro, Small and Medium Enterprises, MSME Minister Nitin Gadkari launched a bank of schemes, ideas, innovation and Research portal - http://ideas.msme.gov.in on MSMEs.

About the portal:

  • The portal gives access to all schemes of Union, States and Union Territory Governments and has the provision for uploading ideas, innovations and research in the sector.
  • It has unique features of not only crowdsourcing ideas, but also evaluation and rating the ideas by crowdsourcing. It can also facilitate the inflow of venture capital, and foreign collaboration.
  • Besides, the portal will benefit potential entrepreneurs as a one-stop compendium of ideas, innovation and research ready for commercialization.

Source: TH

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