Industry association from Tamil Nadu urges government to take measures for better growth of MSMEs in state

New Delhi, Aug 27 (KNN) To encourage growth of MSMEs, the Coimbatore SIDCO Industrial Estate Manufacturers’ Welfare Association has appealed to the state government to conduct MSME Facilitation Council meetings every month.

The association requested the government to improve infrastructure facilities at all the industrial estates promoted by the government.

The above resolutions were passed at the annual meeting of the association recently held here.

Besides, it appealed the union government to re-introduce the Credit Linked Capital Subsidy Scheme.

Urging the government to ensure that the manufacturing units in the MSME sector benefited from the MUDRA loans, the association said that the bankers mostly give loans to self help groups and traders.

It also urged the union government to completely abolish reverse charge mechanism under Goods and Services Tax (GST), enable MSMEs to pay GST every quarter, and simplify the GST refund process.

The e-way bill within a State should not be compulsory for invoice values of less than Rs 5 lakh, it added.

Further, the association urged the government to roll back the increase in Memorandum of Title Deeds charges for bank loans.

The Tamil Nadu government has increased the MOTD charges for bank loans from Rs 25,000 to Rs 30,000.

The association has been asking for reduction to ₹10,000. The State Government should reconsider the revision and make it Rs 10,000, said Surulivel, President of the association.