Centre Has Huge Hopes On MSME Amendment Bill | SupportBiz


Centre Has Huge Hopes On MSME Amendment Bill

Union MSME Minister Kalraj Mishra said that the ministry will try to clear the pending MSME Bill and will promulgate new policies for the betterment of the MSMEs in the coming year.

“Pending bills and policies will be considered this year. We will think about these matter and try to solve them in the coming year,” said Mishra.

He also enumerated the programmes launched for the development of MSMEs in the passing year 2016.

“We are thankful to our PM for the schemes such as SC-ST hub. Government is very interested in promoting Khadi in context to which there was first ever exhibition organized in Srinagar,” said Mishra.

On being asked about the impacts of demonetization over the industrial sector, he said that the Ministry officials visited Small Scale industries (SSI) and they seemed pretty supportive.

“We discussed the issue with the SSI, their response was positive. According to the industries workers are returning to their works,” said Mishra.

“The Centre must notify the Micro Small and Medium Enterprises Development (Amendment) Bill, 2015, which seeks to enhance the existing limit for investment in plant and machinery, considering inflation and the dynamic market situation. At the moment, there is no integrated approach for the development of MSMEs despite the fact that it accounts for 40 per cent of India’s manufacturing and 45 per cent of exports. Therefore, the Centre should come out with one comprehensive policy.”, says P K Jain, Chairman, Chairman, ASSOCHAM National Council on SMEs.

Several areas of concern relating to the GST law and its implementation, must be addressed. It is equally important to provide special incentives for the promotion of export, such as freight subsidy and marketing support.

“Cheaper loans for affordable housing, women’s health, for the agricultural sector, for the MSMEs, and therefore cheaper capital and the transfer of this wealth which was being hoarded as black money now as cheaper capital in these areas is the future agenda of the government. The Finance Ministry will do its best to implement every word of what the PM has announced yesterday.”