Understanding the Impact of Global Pandemic on Indian MSMEs and Central Government’s Initiatives in Ensuring MSMEs’ Survival and Success under Current Context

Abstract

The world at this point in time is only thinking about whether it has faced such a devastating pandemic in the history of human civilization, if not in the history of the evolution of life on the earth and how to tackle it. To bring the Corona Pandemic under control one country after another irrespective of continents goes for complete and partial socio-economic lockdown. India is not an exception to this. It has been now found that after series of phases of lockdowns; the total daily infection rates in India are falling after the third wave. The most vital loss in this situation is not only the precious life but also huge economic losses. Along with all these; when the government is thinking of making Miсrо, Smаll аnd Medium Enterprises (MSMEs) sector the largest employment generating sector of the country, the researcher chooses the concerned area. The researcher has performed a thorough and in-depth analysis to understand how some specific industries has been impacted and how far Central Government's innovative initiatives; especially the Atma Nirbhar Bharat Abhiyan Scheme is workable in tackling the complexities. The researcher observed a very pathetic impact on MSME sector, especially on some specific industries. The government's initiatives are very fine and timely for the welfare of the sector; in spite of some loopholes. The researcher also put forwarded several innovative measures as recommendations for MSME welfare.