SME Times News Bureau | 16 Oct, 2016
Senior BJP leader Murali Manohar Joshi has said that Micro, Small and Medium Enterprises (MSMEs) should get easier finance from the formal banking system, reports media.
"Small and medium scale industries are doing 70 percent production of the country. If they do not remain in good health, the country's economy won't remain in good health. But the economy is doing very little for this sector."
"Past government and their budgets have been focused on the corporate sector," said Joshi while speaking at a national conference on 'Small Business Finance: Fuel for Growth Economy' in New Delhi on Tuesday.
He further said that there is a need for affordable, accessible and available finance for the sector from the banking sector.
"Flow of black money will not end until people of this sector get white money," he pointed out.
The conference was organised by Action Committee for Formal Finance for Non-corporate Small Business (ACFF) where prominent stakeholders of non-corporate small business in the country have come together to support and give shape to a proposed financial architecture to support the Small Business Finance.
