The Prime Minister’s task force will consider the recommendations, made by the sub-committee for the welfare of micro, small and medium enterprises (MSMEs), on November 19.
The Prime Minister’s (PM’s) task force will consider the recommendations, made by the sub-committee for the welfare of micro, small and medium enterprises (MSMEs), on November 19. The sub-committee was founded on September 25 by a panel headed by TKA Nair, PM’s principal secretary.
“The reports have been submitted to the task force. The panel will meet on November 19 to consider them,” MSME secretary Dinesh Rai said. The recommendations that have been made are that there should be an interest subsidy scheme, and reservation of industrial plots for the SME firms. The former recommendation holds significance as MSMEs often bleat about getting loans at 1-2 per cent higher interest rates than the prime lending rates of banks. It is studied that lack of finance is the major reason behind sickness of MSMEs in the country. According to the latest census, there are 2.61 crore MSMEs in the country, of which 14.5 per cent are sick.
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