MSME Min to take industry woes to PM on June 27
Updated: Jun 25, 2014 11:47:20am
New Delhi, Jun 25 (KNN) A presentation will be made before Prime Minister Narendra Modi on June 27 seeking a single point clearance for the MSME sector as several small industries have turned sick in the process of complying with complex bureaucratic rules both at the state and central level.
"Several small industries have turned sick because they have to approach several departments to attain no-objection certificate from state governments for electricity, water.
"Also, despite talk of collateral-free loans, MSMEs face difficulties in availing loans," MSME Minister Kalraj Mishra said here yesterday at the function organised by the National Small Industries Corporation (NSIC).
The Prime Minister has convened a meeting of different ministries including MSME Ministry on June 27 where a presentation will be made about the problems being faced by the MSME sector, which is the largest employment generator after agriculture.
While the government and the RBI concede that enough credit is not made available to the sector, key recommendations of a high-powered inter-ministerial to resolve the problems of the sector are yet to be implemented.
Ironically, the commercial banks are now realising that it makes better business sense to lend to the SMEs as their NPAs in the large sized corporations have mounted. (KNN Bureau)
"Several small industries have turned sick because they have to approach several departments to attain no-objection certificate from state governments for electricity, water.
"Also, despite talk of collateral-free loans, MSMEs face difficulties in availing loans," MSME Minister Kalraj Mishra said here yesterday at the function organised by the National Small Industries Corporation (NSIC).
The Prime Minister has convened a meeting of different ministries including MSME Ministry on June 27 where a presentation will be made about the problems being faced by the MSME sector, which is the largest employment generator after agriculture.
While the government and the RBI concede that enough credit is not made available to the sector, key recommendations of a high-powered inter-ministerial to resolve the problems of the sector are yet to be implemented.
Ironically, the commercial banks are now realising that it makes better business sense to lend to the SMEs as their NPAs in the large sized corporations have mounted. (KNN Bureau)
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