Gadkari assures MSMEs to take up their GST-related issues with FM
New Delhi, Dec 4 (KNN) Union Minister of Micro Small and Medium enterprises (MSME) Nitin Gadkari has assured to take up the problems being faced by MSMEs post-implementation of GST with Finance Minister Nirmala Sitharaman.
"Even after introduction of GST, problems exist. I will speak to the Finance Minister and try to find a possible solution to help MSMEs," said Gadkari on Tuesday, while speaking at a Federation of Indian Chambers of Commerce & Industry (FICCI) event.
''MSMEs have been vocal about compliance burden and pending GST dues,'' he added.
Lauding MSME, he said that MSME is an important sector which will help in achieving the target of becoming a $5 trillion economy.
''MSMEs need to look at alternative and innovative sources other than banks. NSE and BSE are willing to list MSMEs having high turnover,'' he said while commenting on financial issue.
Gadkari urged India’s small businesses to set up their businesses in the rural and tribal areas to boost the employment potential and development of these regions.
Further, he also emphasized on to reduce the costs of logistics, power and capital. He said that cost of these need to be reduced in order to boost MSME and increase their share in country's Gross Domestic Product (GDP).