Union Minister for Micro, Small and Medium Enterprises Kalraj Mishra here on Tuesday said online method will be introduced for encouraging enthusiastic entrepreneurs.
Speaking at the National Workshop of Small and Medium Enterprises at NIMSME, Yusufguda here on Tuesday, the Union minister said the Centre would spare no efforts for extending assistance to those who were planning to start small and medium industries and the applications received through online will be cleared within 15 days. Mishra said the waning village and cottage industries will be revived for which the new State government would have to own responsibility of providing all the basic necessities.
Lamenting that the banks were hesitating to grant loans to those planning to start industries, the Union minister said he would convene a meeting of ministers concerned of all States in the country.
Later, V. Anil Reddy, FAPCCI senior vice-president, submitted a representation to the Union Minister and requested him to revert the excise duty of 8% on products from MSMEs sector.
He said the Micro, Small and Medium Enterprises are considered as ‘Engines of Economic Growth’ and are credited with creating jobs, delivering innovation, and raising productivity. But MSMEs in India are not currently meeting that promise. The performance of MSME sector is not very encouraging and up to their potential because of many hurdles and problems. FAPCCI suggested considering doubling of investment limit for micro, small and medium enterprises (both manufacturing and services) from the existing limit. It suggested that the rate of interest for MSMEs should be reduced to 8% per annum to make the cost of credit affordable. The plethora of labour laws and the various implementation authorities made the system rigid, face an army of inspectors and harassment and made to maintain large number of registers and submit returns. The entire gamut of laws, regulations need to be simplified. He said DISCOMs need to provide dedicated feeders and supply uninterrupted and quality power to the MSMEs, particularly those located in industrial clusters, parks, clusters and so on.
BJP national vice-president and Secunderabad MP Bandaru Dattatraya, Telangana State ministers P Mahendar Reddy, Etela Rajendar, Jubilee Hills MLA Maganti Gopinath, BJP national general secretary Muralidhar, MSMEs Federation convener Raj Mahendar Reddy, its director general M Chandrasekhara Reddy and others were present. (NSS)