KASSIA submits pre-budget memorandum to CM | SupportBiz

In Brief

KASSIA submits pre-budget memorandum to CM

 
Suggests that a new post of development commissioner for SMEs be created.

The Karnataka Small Scale Industries Association (KASSIA) has submitted a pre-budget memorandum to state Chief Minister DV Sadananda Gowda, demanding a restoration of the 15 percent price and purchase preference that was earlier given to SMEs. KASSIA is hopeful that this move will help make SMEs more competitive, reports Business Standard.

Prakash N Raikar, president of KASSIA, stated that the preference policy was withdrawn on account of ambiguity in pricing procedures followed by different government departments.

KASSIA has also suggested that a new post of development commissioner for SMEs be created, and that an independent secretariat be established for the SME sector.

The association, which represents about three lakh SMEs in Karnataka, has also requested the Chief Minister to levy a value-added tax (VAT) of four percent on industrial inputs.

KASSIA has also urged the Chief Minister to exempt SMEs from getting trade licenses for the industrial segment. In addition, it has requested that the introduction of the one-time settlement scheme for seed money loans be expedited.