Ahead of the Budget 2019 to be presented on February 1, the micro, small and medium enterprises (MSMEs) from Manesar near Gurgaon in Haryana wants the government to give incentives, rebate in income tax rates and benefit of capital gains to the sector.

Manmohan Gaind, Vice President of Manesar Industries Welfare Association (MIWA) said, “The government is already doing little bit for the MSMEs, they need to do more.”

In line with the incentives given to individuals for buying properties, the MSME entrepreneur has demanded similar benefits to the entrepreneurs who sell their residential propert to set up industries which gives employment to hundreds of people.

KNN India is running a Whats app drive in which it has asked the MSME entrepreneurs from across the country to send their expectations from the Union Budget through video messages at mobile number 8800421861.

In his message, Manmohan Gaind said, “All capital gains that a person accrues by selling his residential property, he invests in setting up of an industry. He should be given a benefit of that. Today, the Capital gain benefits are not given to industry and you pay the capital gain by selling a house and then you invest in industry which is not correct.”

“We should promote industry, we should promote  job creation and for that you have to have this incentive because government is giving capital gain for buying a new residential property which is not going to give benefit to anybody. Another property is another asset for an individual, but of you set up industry you are giving jobs to so many people,” the entrepreneur added.

Further, he said that the MSMEs are today struggling and need support from the government.

“Some relaxation should be given to the MSME sector in taxes,” Gaind said. (Watch his full video)

The Budget to be presented by Finance Minister on February 1 is an interim Budget. The budget session is scheduled to begin on January 31 and will culminate on February 13.  (KNN Bureau)