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Much-awaited new MSME policy "soon", assures Mishra again
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Saurabh Gupta | 31 May, 2016
The much-awaited new MSME policy for the micro, small and medium enterprise (MSME) sector is about to become reality "soon", the Union Minister for MSME, Kalraj Mishra said in an interview to a leading news paper on Saturday.
"We are working on an ambitious and visionary MSME policy, which will be unveiled soon," the minister told to Business Standard, an English daily newspaper.
However the sector is waiting for this new policy for last two years.
On November 09, 2015 in Kolkata, the MSME Minister himself said that "the new MSME policy is in final stage". He then said that the reactions and feedbacks had come from the public. The government would take comments and feedbacks from certain ministries before they finalise the new policy.
Minister of State, Micro, Small and Medium Enterprises (MSMEs), Giriraj Singh in a written reply to a question in Lok Sabha last year in April 2015, had said that a committee with officials from Ministries of Finance, Ministry MSME and RBI has been formed to chalk out the issues to be included in the new policy. The panel was formed to chalk out a comprehensive policy after studying the policies of other countries and also the policies of various states within the country.
Even more earlier on October 29, 2014, then MSME Secretary had too assured the sector that the government would roll out a new MSME policy soon.
According to the ministry sources, "The MSME Ministry is considering some changes not on the policy side but on the implementation front." The government is also in the process of tweaking the MSME definition under this policy.
There are approximately 46 million MSMEs across various industries, employing 106 million people. Overall, the MSME sector accounts for 45 percent of Indian industrial output and 40 percent of exports.
While most of the sector is un-organized (approximately 94 percent), informal and un-registered, initiatives to have more enterprises registered are well underway.
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Banks not following framework of MSEs
vasan, chennai | Fri Jun 3 04:13:18 2016
Even though most of the policies of the government for MSEs are excellent, banks do not follow policies formed by the government. Even the framework adopted by parliament recently for rehabilitation of sick MSE units remains in paper.Banks are not bothered to implement. How to enforce the bankers to adopt the policy is the question?
Sankar | Wed Jun 1 12:56:46 2016
What is the important change you made to facilitate so called 45% out putter when will it be implemented. We are all compete ing with global competitors they are all producing Engg components with lower bank interest,cheaper power cost,a nd cheaper cost machineries .Is there any remedies for all above in new policy. Srivarisankar Chennai Tamilnadu India
SME LOAN
APURVA SHAH | Wed Jun 1 10:24:22 2016
FOR SMALL SME HAVING TURNOVER OF 80LAC TO 1CR CANNOT TAKE LOAN OF 1CR OR 1.5CR FOR NEW MACHINERY AS THERE BANKING IS NOT STRONG. NO BANK OR PRIVATE SECTOR TAKE INITIATE TO BOOST THOSE CONTRACT MANUFACTURER AS US. IF GOVERNMENT CAN FUND THESE COMPANIES THEN EVEN ECONOMY CAN RISE TO MORE 40% GROWTH IN THIS SECTOR & ITS HELP OVERALL.
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