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29/11/2022 02:24pm

AIE urges FM to open raw materials ration shop and bring SIDBI under ambit of MSME Ministry

image AIE urges FM to open raw materials ration shop and bring SIDBI under ambit of MSME Ministry

New Delhi, Nov 29 (KNN) The Association of Indian Entrepreneurs (AIE) has called for a ration shop for materials at a fair price among a list of suggestions for the Union Budget 2023-24.

The national association has also asked the Finance Minister Nirmala Sitharaman to bring Small Industries Development Bank of India (SIDBI) under the Ministry of Micro, Small and Medium Enterprises (MSME).

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It has also requested for the abolition of capital gains tax on properties sold by micro-entrepreneurs.

As per a memorandum submitted by the AIE, they have urged for 180 days of payment of salaries to the interns by the central government.

Highlighting the biggest problems of MSMEs, K.E. Raghunathan, National President said, “Traders and manufacturers are rigging the market with their whims and fancy pricing. The National Small Industries Corporation (NSIC) must implement a PDS (public distribution system) like ration card system to micro enterprises for supply of essential raw materials at fair price and in small quantities at least at Industrial estates/parks to start with and make them available on credit basis.”

According to AIE the raw material pricing should be under the Competition Commission of India (CCI) to effectively monitor and control the prices.  (KNN Bureau)

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