Delhi MSMEs want FM Jaitley to come out with policies to revive sector and compensate for demonetization loss

New Delhi, Jan 31 (KNN) As the Budget Session begins in the Parliament today, the Delhi based MSMEs have pinned all their hopes on Union Finance Minister, Arun Jaitley to announce sops which would compensate them in dealing with the after math of demonetization.

Different associations from the capital have shared their expectations from FM with KNN.

Calling demonetization “frightful” for MSMEs, Patparganj FIE (Functional Industrial Estate) Entrepreneurs Association told KNN that there should be some measures which would revive the sector.

“After demonetization there MSMEs are quite disappointed as the production speed is at its lowest,” said Sanjay Gaur, President of, Patparganj FIE.

According to National Association of Street Vendors of India, finance ministry should consider the parameters for social protection of the unorganized sector.

“As Demonetization had huge impact over unorganized sector, there should be some social protection given especially to the unorganized sector,” said Arvind Singh, President, NASVI.

He said in order to balance the inequality in the society, industrialization should be facilitated.

“Three major aspects should be considered - health, education and social protection for industries which would help balance the inequality in the society,” said Singh.

Patparganj FIE entrepreneur association said, “Government should consider special concessions for MSMEs as they are responsible for the employment generation,” said Sanjay Gaur.

Emphasizing on the needs of the young entrepreneurs, he added that the banks are reluctant to facilitate the entrepreneurs.

The government should push the banks to provide loans without collateral, as banks are very reluctant to give service especially to young entrepreneurs,” added Gaur.

While Indian Paper Manufacturers’ association stressed over the need of bringing down the central excise duties.

“All the paper and paper grade category are at 6% of central excise duty, except two that are tissue and plastic coated paper which are at 12% and we want them to be on the same level”, said Rohit Pandit, Secretary General, IPMA.

He also said that the paper industries have been asking for the policies to set up a plantation.

“We have been demanding for kind of policy which allows paper companies to set up a plantation for degraded forest land and will create local employments opportunities as well”, said Rohit.

Though GST has been postponed by the government, considering it a vital for the business of MSMEs, he said, “We have send memorandums before government, under which GST is one of the major aspect for MSME trade.”

If capital of the country has such a list of demands then it can be anticipated easily that how much the MSMEs across country have been expecting from the Finance Minister Arun Jaitley. (KNN)