MSMEs Seek Increased Budget Outlay In BJP Election Manifesto | SupportBiz


MSMEs Seek Increased Budget Outlay In BJP Election Manifesto

Tags: BJP
New Delhi: Micro, Small and Medium Enterprises (MSME) have sought a pro-industry stance in the election manifesto of BJP. MSME chamber Indian Industries Association (IIA) has demanded incentives and sops to the beleaguered sector at par with agriculture.

According to a report published in Business Standard, IIA maintained that the sector had failed to garner the attention it deserved despite providing employment to 140 million people and contributing handsomely to the socioeconomic development of India.

A delegation of industrialists and IIA office bearers met BJP president Rajnath Singh here and submitted a memorandum with suggestions to be incorporated in the yet-to-be-released poll manifesto of BJP.
Rajnath is seeking election from Lucknow and is currently camping in the parliamentary constituency. The memorandum seeks increased budget outlay for MSMEs, particularly those in the agriculture sector.

IIA laments that labour laws for MSMEs were complex, which should be simplified for implementation, generating more jobs and providing more benefit to workers.

The chamber has quoted a central government report of 2012-13, which estimated the total number of MSME units in India at 44.8 million.

India could never acquire the status of a developed nation unless the MSME sector was strengthened with government support, IIA divisional chairman Prasshant Bhatiya noted.

Further, IIA has demanded stringent laws against payment delays by government and non-government organisations for procurements made from MSMEs, since the existing provisions of MSME Act 2006 had been ineffective.

Besides, MSME units were not getting competent and trained employees, thus making it imperative for manpower training.

"MSMEs should be given the status of authorised training centre and the provisions of the Factory Act should not be made applicable during the training period of at least 2 years as are applicable to regular employees," the memorandum read.