Though measures taken by PM is appreciable, will boost MSME export: FISME
New Delhi, Nov 3 (KNN) As Prime Minister Narendra Modi announces slew of incentives to facilitate Micro, Small and Medium Enterprises, Federation of Small and Medium Enterprises (FISME), President Dinesh Chandra Tripathi welcomed the move stating these measures will boost exports especially for SME sector.
Speaking to KNN India, Tripathi hailed the decisions taken by Prime Minister Narendra Modi to help India’s second biggest employing sector but on the other side he raised concern on MSME loans due to stricter RBI norms.
He said “It’s a sudden decision to manage and do damage control on fund crisis due to stricter RBI norm for banks in SME and Non Performing Assets (NPA) provisioning even for SME.”
Emphasizing on funding problem of MSMEs, he suggested that things should be done in line or consultation with RBI policy measures.
Both measures must complement each other in order to resolve the funding problem of MSMEs, he pointed.
In a bid to boost MSME sector, Prime Minister Narendra Modi announced 12 key measures at the Micro, Small and Medium Enterprises (MSME) Support and Outreach program at Vigyan Bhawan yesterday in the presence of Union Minister of Finance Arun Jaitley and MSME Minister Giriraj Singh.