New Delhi, Apr 8 (KNN) Bharatiya Janata Party and Indian National Congress are two of the leading political parties in India.

Both the parties have released their Manifestos and have made several promises to woo voters. Let’s have a look at what they have to offer to MSMEs, traders and startups.

Promises made by Congress for MSME sector:
  --  We will trigger rapid growth of the manufacturing sector, particularly of MSMEs, through the provision of world-class infrastructure in industrial hubs and cluster towns in order to aid the expansion of current units and the creation of new units.
  --  MSMEs account for 90% of all employment outside agriculture. The definition of MSMEs based on capital employed is biased against labour. Congress will link the definition of MSME to employment. A business employing 10 persons or less will be ‘micro;’ between 11 and 100 will be ‘small;’ and between 101 and 500 will be ‘medium.’
  --  Congress promises to reverse these gross distortions and, working closely with the RBI, re-start the process of credit delivery and ensure sufficient liquidity and cash in circulation.
  --  MSMEs were badly hit by demonetization and a flawed GST. Congress promises to devise a rehabilitation plan for MSMEs that were severely affected and help them revive and grow.
  --  Congress will encourage the establishment of State-level and Regional-level institutions, including small banks, to provide bank credit to MSMEs. Congress will also encourage State Governments to revive State Financial Corporations to provide long-term credit and risk capital to MSMEs.
  --  Congress will encourage the establishment of State-level and Regional-level institutions, including small banks, to provide bank credit to MSMEs.

Promises made by BJP for MSME sector:
  --  New Industrial Policy - We will announce a new industrial policy to improve competitiveness of manufacturing and services with an eye on Industry 4.0 in order to gear up for technologies like artificial intelligence and electric mobility. Special eo will be made for MSMEs.
  --  The Technology Centres, other skilling centres of MSMEs and NSICs incubation centres alone would provide focused and high level skilling to more than 6 lakh people per year.
  --  About 10% material to be sourced for government procurement will be done from MSMEs having at least 50% women employees in their workforce.
  --  Under a new 'Entrepreneurial Northeast' scheme, provide financial support to MSMEs and for employment generation in northeastern states.
  --  Work towards creating a single-window compliance and dispute resolution mechanism for MSMEs.

Promises made by Congress for traders:
  --  We are deeply concerned about the cases of discrimination and harassment of students, traders and others belonging to Jammu & Kashmir in the rest of India and we will ensure their safety and their right to study or do business.

Promises made by BJP for traders:
  --  We will establish National Traders’ Welfare Board and create a National Policy for Retail Trade for the growth of retail businesses.
  --  To protect the interests of small traders, we will provide an accident insurance of 10 lakh rupees to all the traders registered under GST.
  --  On the lines of Kisan credit card, we will also create a scheme to give merchant credit card to registered merchants.

Promises made by Congress for startups:
  --  We will create an Enterprise Support Agency to help entrepreneurs, including start-ups, with all-round business support including counselling, incubation, access to technology, funding, domestic and export markets, and the creation of new products, services and intellectual property.
  --  Congress promises to encourage and incentivize starting of new businesses. The Angel Tax imposed on Start-Ups will be withdrawn completely. We will make India an innovation hub.

Promises made by BJP for startups:
  --  Easing regulatory requirement for start-ups
  --  Targeting time spent for tax compliance at 1 hour per month
  --  Facilitating establishment of 50,000 new startups in the nation by 2024
  --  Creating 100 innovation zones in urban local bodies
  --  Setting up 500 new incubators and accelerators by 2024
  --  Initiating ranking of Central Ministries, departments State Governments and CPSUs for their increased engagement with start-ups and in bringing in innovation and newer technologies and global practices and skills.
  --  BJP also promises to continue to promote and encourage startups through creation of a ‘Seed Startup Fund’ of Rs 20,000 crore.
  --  We will support entrepreneurial ventures started by individuals from Scheduled Castes, Scheduled Tribes, Other Backward Communities, or Economically Weaker Sections and take forward the ‘Standup India’ initiative.

The Lok Sabha Elections 2019 will be held in seven phases, from April 11 to May 19, 2019 across India's 543 constituencies in 29 states and 7 Union Territories. (KNN/JM)