New Delhi, Nov 20 (KNN)   With a view to ensuring easy credit flow for the micro, small and medium enterprises sector, the government is working towards removal of problems arising out of its credit guarantee trust fund, said Union Minister for Micro, Small and Medium Enterprises, Kalraj Mishra.
 
Inaugurating a seminar on ‘Financial Restructuring for MSMEs-Lifeline for Success,’ organized by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) here yesterday, the Minister said that the banking sector has a responsibility in development of MSMEs as they have a significant role to play by ensuring easy finance availability to the sector, as per an official release.

The MSME Ministry is also working on a format to streamline the process of filing entrepreneurs’ memorandum (EM) through an online system, he added.

In addition, it is working towards fixing a deadline for procurement of NOC from concerned ministries to ensure that small entrepreneurs do not face any difficulties.

Further, considering the huge dearth of skilled labour being faced by the MSME sector, the Government is working on joint skill development of labour and entrepreneurs, he informed.
 
“The whole idea for skill development of youth in the rural sector is to encourage them for entrepreneurship thereby imparting training through machines by setting up incubation centres on a wide scale,” he said.

Further, putting a thrust on public, private partnership (PPP) model for growth and development of MSMEs, the Minister said, “Private sector should open technical institutions, tie up with enterprises and train youth in large numbers with a guarantee to provide jobs thereby contributing to the success of Make in India programme.”

According to the Minister, future MSMEs will play a key role in India’s economic growth.  (KNN/ES)