Lack of industry friendly policies making MSMEs incompetent
Updated: Dec 28, 2015 03:09:23pm
New Delhi Dec 28 (KNN) Owing to the cut throat competition from the neighbouring countries, especially China, Indian micro small and medium enterprises are crying for the pro-industry measures from the government to protect them.
The industrialists have been complaining since long about the complex tax structure in the country. To add to their problems, the much awaited Goods & Services Tax (GST) Bill failed to get passed in the Rajya Sabha in this winter session too. GST Bill is expected to bring some uniformity in the tax structure for the MSMEs.
Industry bodies have been saying that the GST bill can help MSMEs avoid complexities of the taxation and probably small sector would be the biggest beneficiary of GST.
Talking to KNN, UP industrialists said, “This is the time of high competition and you know that how industries are surviving. Government should provide some subsidies to the industries in the fuel and give them relaxation from the complicated tax structure.”
This is stated by the President of Sahibabad industrial association (SIA) Dinesh Mittal, who further added that the government doesn’t want to pass the excise benefits to them. The industry never gets the benefits of VAT.”
The General Secretary of SIA, Vipin Aggarwal, told KNN that the cost of production for micro, small and medium enterprises is so high that kills them in the global competition.
Moreover, the high cost of fuel - CNG and PNG raises the cost of production furthermore, Aggarwal added.
SIA said that the industry has been urging the government to make it affordable for them in order to cut down the cost of production.
Adding more to the woes of the industry, ‘Inspector Raj’ has been an irritant for the industry.
Elaborating about the issue faced by the industry due to ‘Inspector Raj’, the industrialists said, “In the Higher Levels, the departments are doing well, but when it comes to the ground reality, the industries still suffer due to inspector raj. “They often ask for bribe in order to allow the industry to run,” said an entrepreneur. (KNN Bureau)
The industrialists have been complaining since long about the complex tax structure in the country. To add to their problems, the much awaited Goods & Services Tax (GST) Bill failed to get passed in the Rajya Sabha in this winter session too. GST Bill is expected to bring some uniformity in the tax structure for the MSMEs.
Industry bodies have been saying that the GST bill can help MSMEs avoid complexities of the taxation and probably small sector would be the biggest beneficiary of GST.
Talking to KNN, UP industrialists said, “This is the time of high competition and you know that how industries are surviving. Government should provide some subsidies to the industries in the fuel and give them relaxation from the complicated tax structure.”
This is stated by the President of Sahibabad industrial association (SIA) Dinesh Mittal, who further added that the government doesn’t want to pass the excise benefits to them. The industry never gets the benefits of VAT.”
The General Secretary of SIA, Vipin Aggarwal, told KNN that the cost of production for micro, small and medium enterprises is so high that kills them in the global competition.
Moreover, the high cost of fuel - CNG and PNG raises the cost of production furthermore, Aggarwal added.
SIA said that the industry has been urging the government to make it affordable for them in order to cut down the cost of production.
Adding more to the woes of the industry, ‘Inspector Raj’ has been an irritant for the industry.
Elaborating about the issue faced by the industry due to ‘Inspector Raj’, the industrialists said, “In the Higher Levels, the departments are doing well, but when it comes to the ground reality, the industries still suffer due to inspector raj. “They often ask for bribe in order to allow the industry to run,” said an entrepreneur. (KNN Bureau)
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