MSMEs seek a slew of support from govt for growth
Hotline: 1800 102 2007
X
Search Business Opportunities
2014-06-16

MSMEs seek a slew of support from govt for growth

MSMEs have sought a slew of fiscal support and policy measures from the government for the growth of the sector.

MSMEs have sought a slew of fiscal support and policy measures from the Government for the growth of the sector. The National Confederation of Small Industry and the Industrial Estate Manufacturer’s Association in a representation to the Prime Minister Narendra Modi, have sought relief from the provisions of the Sarfaesi Act which is used to auction assets of industrial units to recover over-due loans.

 

They said that large industries and the corporate sector are extended facilities such as Corporate Debt Restructuring but the MSME sector bears the brunt of the harsh measures. The 90-day limit to declare an overdue loan as a non-performing asset should be doubled to 180 days and rehabilitation of sick units should be supported on a priority basis.

 

Their demands include – MSMEs should be treated on par with large and small industries, central excise duty exemption limit should be increased from the present Rs 1.5 crore, credit to the MSME sector should be made available at 7-8 per cent interest rates, and public sector units and government departments should be told to procure material from local MSME units.

 

The Association also urged that SIDBI should be allowed to lend directly these units. They also said that the National Small Industries Corporation should be directed to extend loans for factory sheds and machinery, MSME Development Institute should be strengthened to guide entrepreneurs in export business, and labour laws suitable for the sector must be framed. They also suggested that the delayed payment act should be enforced to ensure that large corporate units do not delay payments to MSME units, and MSMEs also demanded that the government should act on the recommendations of the Inter Ministerial Committees to accelerate growth.

Related opportunities
  • Others Health Care & Fitness
    About Body Building India Body Building India is a well-known name..
    Locations looking for expansion New Delhi
    Establishment year 2015
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required 250 - Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New Delhi New Delhi
  • Furniture/Home Decor & Furnishing
    About: An innovative brand that Nilkamal is, they started ‘Home Ideas’..
    Locations looking for expansion Maharashtra
    Establishment year 1990
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • Others Dealers And Distributors
    Ranau e-Kendra Online financial and other services in India is expected..
    Locations looking for expansion Karnataka
    Establishment year 2011
    Franchising Launch Date 2014
    Investment size Rs. 50 K - 2lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Bangalore Karnataka
  • Preschools
    About Us: GD Goenka Group, established in 1982, has had varied..
    Locations looking for expansion Delhi
    Establishment year 1982
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts