Chidambaram optimistic about MSMEs
Updated: Jul 31, 2013 06:16:39pm
New Delhi, Jul 31 (KNN) Despite the gloom of industrial slowdown the MSMEs are one sector that give optimism to Finance Minister P Chidambaram.
“It is the industry sector that presents a mixed picture. Bankers have told me that there is good demand for credit from commercial real estate, small and medium enterprises, and retail sectors. Credit growth to micro and small enterprises was very strong in May, 2013 at 21.2 per cent on year-on-year basis. Consumer durables lending grew by 21 per cent in May this year,” Chidambaram said in a press conference today on completion of one year in the office.
He said that there is high degree optimism even among farmers as the monsoon has been good this year.
“Our demand for credit is sluggish from big industry,” he said here, adding that the economy is expected to grow between 5.5 and six per cent this fiscal. (KNN/GUNJ)
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“It is the industry sector that presents a mixed picture. Bankers have told me that there is good demand for credit from commercial real estate, small and medium enterprises, and retail sectors. Credit growth to micro and small enterprises was very strong in May, 2013 at 21.2 per cent on year-on-year basis. Consumer durables lending grew by 21 per cent in May this year,” Chidambaram said in a press conference today on completion of one year in the office.
He said that there is high degree optimism even among farmers as the monsoon has been good this year.
“Our demand for credit is sluggish from big industry,” he said here, adding that the economy is expected to grow between 5.5 and six per cent this fiscal. (KNN/GUNJ)
Feedback: newsdesk@knnindia.co.in
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