Need to improve the MSMEs sector: Mahendra Dev
Updated: Jan 14, 2016 12:20:12pm
New Delhi, Jan 14 (KNN) Considering that the customary pre-Budget consultations are important as they help the government in formulating policies, Union Finance Minister Arun Jaitley, in a series of marathon meetings met various economists, calling for their suggestions for Budget 2016 on Wednesday.
Talking Exclusively to KNN after the pre-budget meeting, Director of Indira Gandhi Institute of Development of Research (IGIDR), Mahendra Dev, said that Micro, Small and Medium Enterprises (MSMEs) should be given a boost so that exports can be improved. He pointed out that exports were not doing well in the international market.
From the employment point of view, he also said that the SME sector is important for them as MSMEs provide employment close to 40 per cent of India’s workforce.
Asked about the index of Industrial Production which has gone down to minus three per cent, the Director said that IIP is volatile, it goes up and down.
As far as the depreciation of Chinese currency Yuan is concerned, he said it is bound to have some impact on the MSME sector. Therefore, we need to think how we can protect our Small and Medium sector, he opined.
Other suggestions by economists during the meeting included bringing in changes in small savings rate and to focus on increasing private and public investment. (KNN Bureau)
Talking Exclusively to KNN after the pre-budget meeting, Director of Indira Gandhi Institute of Development of Research (IGIDR), Mahendra Dev, said that Micro, Small and Medium Enterprises (MSMEs) should be given a boost so that exports can be improved. He pointed out that exports were not doing well in the international market.
From the employment point of view, he also said that the SME sector is important for them as MSMEs provide employment close to 40 per cent of India’s workforce.
Asked about the index of Industrial Production which has gone down to minus three per cent, the Director said that IIP is volatile, it goes up and down.
As far as the depreciation of Chinese currency Yuan is concerned, he said it is bound to have some impact on the MSME sector. Therefore, we need to think how we can protect our Small and Medium sector, he opined.
Other suggestions by economists during the meeting included bringing in changes in small savings rate and to focus on increasing private and public investment. (KNN Bureau)
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