New Delhi, 31 Dec (KNN) As per media reports, the Parliamentary Standing Committee on Finance is open for suggestions from the public and other stakeholders on the matter of credit flow to MSME sector.

The house panel is chaired by MP Jayant Sinha to understand the impact it has on Indian economy. 

The Committee will treat every suggestion and view submitted by experts, public and

other stakeholders as confidential.

The MSME sector is considered as the significant part of the economy employing almost 11 crore people across various sectors.

For the working capital, they mostly depend on private finance and even those with access to institutional finance have to pay high interest cost due to their weak balance sheet.

There are 633.88 lakh micro, small and medium enterprises (MSMEs) in the country out of which micro enterprises are 630.52 lakhs (99.47 per cent), small enterprises are 3.31 lakhs (0.52 per cent) and medium enterprises are 0.05 lakhs (0.01 per cent).