New Delhi, Jan. 20 -- The Centre is considering raising the MSME Champions Scheme outlay to about Rs 10,000 crore over the next five years, a sharp increase from Rs 1,125 crore in FY22-FY26, to promote cleaner manufacturing, boost exports and improve MSME global competitiveness.

An official said the proposed outlay may be increased to Rs 8,000-10,000 crore and has reached the Expenditure Finance Committee (EFC) stage, chaired by Expenditure Secretary V. Vualnam. Following EFC clearance, the proposal will be sent to the Cabinet for final approval, reported The Mint.

Approval Process May Take Up to Five Months

Another official said the EFC and Cabinet approval process may take three to five months. The MSME ministry is seeking a higher a...