There is a strong need to support SMEs: Manmohan SIngh
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2014-01-04

There is a strong need to support SMEs: Manmohan SIngh

Prime Minister Manmohan Singh on Friday said that his government did not succeed in creating adequate jobs in the manufacturing sector during his decade-long tenure and so there is a strong need to support small and medium enterprises (SMEs), which can be a major source of good quality employment.

Prime Minister Manmohan Singh on Friday said that his government did not succeed in creating adequate jobs in the manufacturing sector during his decade-long tenure and so there is a strong need to support small and medium enterprises (SMEs), which can be a major source of good quality employment.

 

In a press conference organised at National capital, Singh said, "we have not been as successful as we need to be in generating employment in the manufacturing sector...We need a much stronger effort in support of small and medium enterprises, which can be a major source of good quality employment. Our manufacturing strategy gives high priority to this objective for the future."

 

Singh expresses his concern over three points. "First, I am concerned that we have not been as successful as we need to be in generating employment in the manufacturing sector. This is an aspect of performance which we are working hard to correct. We need a much stronger effort in support of small and medium enterprises, which can be a major source of good quality employment."

 

Accepting his failure to check inflation, he said, "Second, we have also not been as successful in controlling inflation as we would have wished. This is primarily because food inflation has increased. However, we should remember that those who produce food gain from higher prices. Also our inclusive policies have put more money in the hands of the weaker sections."

 

He said that to keep food prices in control India needed to increase supplies and also improve marketing arrangements and logistics. This is especially important for items which are perishable, such as fruits and vegetables. Much of this work lies in the domain of the States.

 

"Third, we are deeply committed to the objective of combating corruption. An array of historical legislations has been enacted to make the work of the Government transparent and accountable. Governance has been made more answerable as never before," said PM. 

 

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