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Budget 2014: MSME Ministry to demand single-window clearance, time-bound loans

Tags: union budget, MSME Ministry, Union Minister Kalraj Mishra, Budget

June 25, 2014 | COMMENTS ( 0 )

Budget 2014: MSME Ministry to demand single-window clearance, time-bound loans

The MSME Ministry  will seek to put in place a single-window clearance mechanism along with setting specific timeframes for grant of loans, easier labour laws and simplification of processes as a part of roadmap to revitalise the sector, said Union Minister Kalraj Mishra.


The above suggestions will be part of the 10-slide presentation by the ministry before Prime Minister Narendra Modi on June 27.


"Several small industries have turned sick because they have to approach several departments to attain no-objection certificate (NOC) from state governments for electricity, water, etc. Despite talk of collateral-free loans, MSMEs face difficulties in availing loans," said Mishra.


"Moreover, there is scarcity of land, and labour laws are complicated. We are preparing a plan to simplify processes and accord single-window clearance. We will decide a timeline of say 15 days, one month for entrepreneurs to acquire necessary clearances and to get loans within a specified timeframe. The presentation (to the PM) will contain all these suggestions."


The Prime Minister is slated to meet ministers and secretaries of mines, steel and MSME ministries, among others, on June 27 to discuss sectoral problems and draw roadmap to rejuvenate the sectors.


The MSME Ministry is presently being governed by the industrial policy as it does not have a policy of its own. It may also highlight the need for a separate policy in the presentation. "We shall design policies to enable the youth to attain self-employment through entrepreneurship and create jobs," said Mishra.
 

The 10-slide presentation by each ministry is likely to highlight their role and functions, current scenario of the respective sectors, achievements, concerns arising out of the recent developments, gap between aspiration and outcome and the next five-year agenda.

The Cabinet Secretariat had earlier asked the Secretaries to prepare a 10-slide presentation for the Prime Minister listing success and failures of the past regime as well as points of action for the next five years. Mishra also hoped for higher funds allocation for the MSME Ministry from the upcoming budget.

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