Kerala to re-introduce MSME pension scheme, industry express concern over criteria-implementation

New Delhi, Jan 4 (KNN) With the Kerala state government planning to reintroduce the pension scheme for the Micro, Small and Medium Enterprises (MSMEs), the industry is concerned over the criteria that is to be prescribed.

Recently, A C Moideen, Minister for Industries in the Kerala government announced the plan to start pension scheme for small industrialists.

Responding to the announcement, Joseph K.A, Vice President of Kerala State Small Industries Association (KSSIA) said that while the MSME pension scheme is a welcoming move, the industry has concerns over the way in which it is to be rolled out.

“The government should come up with clarity on the criteria it plans to undertake for the identification of those on whom it is to implemented, else there would be added confusion, doing less good”, he said.

Commenting over the possible gaps that could go unnoticed in the formulation of the scheme, Joseph said that in many cases retired person starts their own business while in many cases they don’t; a blanket scheme therefore is not the best option.

Also the state is also to get its maiden industrial policy soon with stakeholders expecting a special focus on the Micro, Small and Medium Enterprises (MSME) sector that could add for higher employment rates in the state.

“With the state seeing an inward wave of Indian diaspora from West Asian Countries recently, generation of more employment is the need of the hour”, commenting over the upcoming policy, the, Kerala Industries Minister said. (KNN/MG)