Jitan Ram Manjhi: Chief Minister to MSME Minister—A New Vision for MSMEs

Former Bihar Chief Minister Jitan Ram Manjhi has been named as the new Minister of Micro, Small, and Medium Enterprises (MSME) in a significant overhaul under Prime Minister Narendra Modi’s cabinet. Manjhi succeeds Narayan Rane, who took up the MSME portfolio in July 2021. Here, we look at the possible developments Manjhi might bring to the MSME sector.

Appointment as Minister of MSMEs

Manjhi’s selection as MSME Minister during Modi’s third term demonstrates his continued political power and support for neglected populations. The MSME sector is critical to India’s economic growth, and Manjhi’s leadership is anticipated to make substantial strides.

Potential developments in the MSME sector

Manjhi’s vast experience in state politics, along with his concentration on community welfare, positions him ideally to bring about substantial change in the MSME sector. During his term, he is anticipated to concentrate on the following major areas:

1. Enhanced Access to Finance: The Prime Minister Mudra Yojana (PMMY) has disbursed over 460 million loans totaling Rs 27 trillion. Manjhi is expected to advocate for more improvements, including raising the loan maximum to Rs 20 lakh, as stated in the BJP’s 2024 election agenda.

2. Addressing Delayed Payments: Delays in payments pose substantial issues for the MSME sector. Manjhi’s government is likely to impose harsher fines and expedite processes via platforms such as the Samadhaan portal to ensure timely payments.

3. Assistance for Small Enterprises: Recognizing the significance of smaller firms, Manjhi is likely to implement policies that improve assistance and growth prospects for small and micro businesses, ensuring they have appropriate resources and market access.

4. Promoting Entrepreneurship: Manjhi’s leadership might result in efforts that promote entrepreneurship, particularly among underprivileged populations, by utilizing his broad political experience and devotion to social welfare.

Shobha Karandlaje’s Role

Shobha Karandlaje, the new Minister of State (MoS) in the Ministry of MSME and the Ministry of Labour and Employment, will assist Manjhi in his role. Karandlaje’s background in social work and political experience will help Manjhi drive the sector’s growth.

Conclusion

Jitan Ram Manjhi’s selection as MSME Minister is notable for his resilience and dedication to social justice. His considerable political experience and focus on underprivileged populations equip him well to make significant contributions to the MSME sector, boosting growth and fostering entrepreneurship in India.

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