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'MSME sector's growth likely to be on par with GDP'
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SME Times News Bureau | 23 Nov, 2012
The growth rate targeted for the MSME sector during the twelfth Five Year Plan is likely to be on par with that of national economy, said Minister of State (Independent Charge) for Micro, Small and Medium Enterprises K. H. Muniyappa on Thursday.
The MSME sector is expected to grow during the twelfth plan period at a rate that is of the national economy, as these enterprises are dependent on macro economic factors influencing industry and the economy of the country, Muniyappa said in a written reply to a question in the Lok Sabha.
He added that the National Manufacturing Policy envisages share of manufacturing in the country to rise to 25% of Gross Domestic Product from the present 16% by the year 2022.
In his reply, the minister stated that the Centre has formulated several policies, programmes and schemes to facilitate promotion and development of MSMEs in the country.
In the Union Budget 2012-13, capital gains tax on sale of a residential property has been exempted, if the sale consideration is used for purchase of new plant and machinery.
The restriction on Venture Capital Funds to invest only in nine specified sectors has been removed.
Another important incentive, Muniyappa added, is through implementation of Public Procurement Policy for Micro and Small Enterprises Order 2012.
He said that other major schemes, such as Credit Guarantee Scheme, Credit Linked Capital Subsidy Scheme, Cluster Development Programme, National Manufacturing Competitiveness Programme, Prime Minister's Employment Generation Programme, Entrepreneurship & Skill Development Programme and Performance and Credit Rating Scheme, will also help growth of this MSME sector.
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DeLAYED PAYMENT IS the MAJOR TROUBLE
Veeraputhiran | Tue Dec 4 05:12:54 2012
All talk high is these SMEs MSMEs right from Politicians to corporates all survive just because of these millions of SME,s or MSME's But none of these Corporates or Govt Firms make payment to these till they starve and die. and keep blaming them for service quality whan the time for payment comes and delay the payment till these So called MSME's die
No Court or Ministers bother to ensure the law by force
MSME Sector's Growth likely to be on par with GDP'
Sachindra Chandra Dutta Banik | Sat Dec 1 13:42:23 2012
Manufacturers manufacture goods. Traders sale the goods. Traders support the families of manufacturers and traders. Our Government should consider to include the traders in MSME Projects to get a nice picture of GDP.
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