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2013-09-04

Government panel to make entry, exit norms easier for MSME growth

\r\nIn order to improve growth in MSME sector, a government-panel will soon suggest easier entry and exit norms along with policies for easy flow of credit in its report to Cabinet Secretary Ajit Kumar Seth. \r\n

In order to improve growth in MSME sector, a government-panel will soon suggest easier entry and exit norms along with policies for easy flow of credit in its report to Cabinet Secretary Ajit Kumar Seth. 

 

MSME Secretary, Madhav Lal, said "We are finalizing our report on improving manufacturing in the MSME sector which will soon be submitted to the Cabinet Secretary for his consideration". 

 

The government had set up an inter-ministerial committee (IMC), headed by Madhav Lal, to look into issues faced by small units and suggest ways to boost manufacturing in the sector. 

 

Secretary in the Ministry of Labour M Sarangi, Textiles Secretary Zohra Chatterji and Department of Industrial Policy and Promotion (DIPP) Secretary Saurabh Chandra are also in the committee of IMC. 

 

The six-member committee has discussed a number of issues which have been affecting the growth of small units and would suggest various recommendations in this regard.  In the report, the panel is believed to have suggested simplification of rules for entry of small units along with creating an efficient framework for exit of sick units. 

 

"We are looking at the entire issue from the perspective of the life cycle of MSMEs like what kind of assistance they require at the stage of the start-up and what is that they require for doing business or expanding it," Lal added.

 

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