Budget-Govt should encourage MSMEs; young entrepreneurs to boost employment: GHRSSIDC

Panaji, Jan 28 (KNN) The Budget 2017 will be a major revamp and one of the most sought after event, as the nation is undergoing radical changes due to the hardships caused by demonetization and the soon to follow implementation of GST.

KNN spoke to Goa Handicraft Rural and Small scale Industries Development Corporation (GHRSSIDC) about its suggestions to be included in the upcoming Union Budget 2017.

Chairman of GHRSSIDC said that government should promote employment generation in MSMEs.

“There should be some measures that would help in generating employment in the industrial sector and employment generating MSMEs should be encouraged," said Lavoo Mamledar, chairman of GHRSSIDC.

Emphasizing the need of marketing strategies and low interest for small sector, he said, government should widen the ways for the small sector industries.

“Marketing for small scale should be encouraged by the government and tax interest rate should be low for promoting small entrepreneurs," said Mamledar.

Considering the workers vital for the growth of the industries, he added that government should consider some policies to help the MSME workers.

“Some modality should be provided by the government to help small sector and Contract Labour system should be abolished in order to provide them secure job opportunity," added Mamledar.

He also spoke about the support of government to be provided to the young entrepreneurs.

“If somebody wants to start business then there should be support of the government with a view to boost the industrial sector in the state”, said Chairman, GHRSSIDC.

Although financial preparations will be better as the budget is to be presented almost a month earlier, yet businesses will have a tough time implementing the new tax structure.

Not just the business stakeholders but most of the population will be glued to their television sets on the 2017 budget day. (KNN)