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Wage payment was an issue for MSMEs post demonetization; but situation improving now: Kalraj Mishra

Updated: Jan 13, 2017 06:45:26am
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Wage payment was an issue for MSMEs post demonetization; but situation improving now: Kalraj Mishra

Ahmedabad, Jan 13 (KNN) Showing concerns over issues that the micro, small and medium enterprises (MSMEs) faced post demonetization, Union MSME Minister Kalraj Mishra said payments to workers remained a major problem for the sector.

He, however, said the situation is "improving slowly".

He said this while addressing the VibrantGujarat seminar on MSMEs.

Further, the Minister spoke about various schemes started by the Central Government focusing on MSME sector.

Mishra said that the central government has begun a "zero defect, zero effect" (ZDZE) certification process for which it has received more than 64,000 online applications.

For this, he said appropriate funding will be provided as per the ZDZE certification level to brass, silver, gold, platinum and diamond units.

Mishra said under the Revival and Rehabilitation Framework, the stressed MSMEs are extended help in order to stop them from turning into NPAs.

"A support loan proposal for NPAs up to Rs 10 lakh will be scrutinized by the bank manager, while anything greater but less than Rs 25 crore will be scrutinized by a special committee formed under our ministry. Financial aid for such units can then be arranged," the minister said on Revival and Rehabilitation Scheme for MSMEs.

He further said that in Ahmedabad, a 3D printing centre has been started at the Indo-German tool room where even training is provided. Besides the ASPIRE scheme, the MSME ministry has offered through banks a 30% cash credit to entrepreneurs of digital start-ups.

Meanwhile, Gujarat deputy chief minister Nitin Patel said: “As many as 25,578 MoUs have been signed at this edition of the summit, which is 2,500 more than the number that were signed at the last edition in 2015. The highest number of MoUs were signed for micro, small and medium enterprises (MSMEs) amounting to 18,533 MoUs, followed by 5,938 MoUs for large-scale industries and 1,107 MoUs for technology sharing.”

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