Raising limit for enterprises to qualify as MSME would hit small biz: Laghu Udyog Bharti
Updated: May 18, 2015 12:44:55pm
New Delhi, May 18 (KNN) Representatives of the small industries body Laghu Udyog Bharti, an RSS affiliate, has raised concerns with the RSS leaders over the recent decision to raise the limit for enterprises to qualify as micro, small and medium enterprises saying it would hit small businessmen.
The investment limits in plant and machinery for the micro enterprises was recently proposed to be raised to Rs 50 lakh, of small enterprise to Rs 10 crore and medium enterprise to Rs 30 crore. The existing limit are Rs 25 lakh, Rs 5 and Rs 10 crore respectively.
These investment limits were fixed by the Micro, Small and Medium Enterprises Development (MSMED) Act in 2006. The amendment bill introduced by MSME Minister Kalraj Mishra in the Lok Sabha in April proposed to raise the limits in view of rise in input costs.
The bill also seeks to empower the central government to to revise the investment limits through a notification.
RSS supremo Mohan Bhagwat met top Union ministers and the BJP chief in the run-up to the government completing its first year in office.
Bhagwat met home minister Rajnath Singh and BJP president Amit Shah last week, and is scheduled to meet transport minister Nitin Gadkari and defence minister Manohar Parrikar this week.
These meetings come across the party and its allies to discuss the crucial land acquisition bill and other economic policies, some of which are opposed even by Sangh affiliates. (KNN Bureau)
The investment limits in plant and machinery for the micro enterprises was recently proposed to be raised to Rs 50 lakh, of small enterprise to Rs 10 crore and medium enterprise to Rs 30 crore. The existing limit are Rs 25 lakh, Rs 5 and Rs 10 crore respectively.
These investment limits were fixed by the Micro, Small and Medium Enterprises Development (MSMED) Act in 2006. The amendment bill introduced by MSME Minister Kalraj Mishra in the Lok Sabha in April proposed to raise the limits in view of rise in input costs.
The bill also seeks to empower the central government to to revise the investment limits through a notification.
RSS supremo Mohan Bhagwat met top Union ministers and the BJP chief in the run-up to the government completing its first year in office.
Bhagwat met home minister Rajnath Singh and BJP president Amit Shah last week, and is scheduled to meet transport minister Nitin Gadkari and defence minister Manohar Parrikar this week.
These meetings come across the party and its allies to discuss the crucial land acquisition bill and other economic policies, some of which are opposed even by Sangh affiliates. (KNN Bureau)
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