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Trade bodies seek steps to help MSMEs bounce back

Trade bodies hope for some concrete measures in the state budget to empower MSMEs to bounce back with confidence after the Covid pandemic.  

Published: 23rd February 2021 03:50 AM  |   Last Updated: 23rd February 2021 03:50 AM   |  A+A-

MSMEs

Image used for representational purposes

By Express News Service

BENGALURU: Trade bodies hope for some concrete measures in the state budget to empower MSMEs to bounce back with confidence after the Covid pandemic.  They are expecting a much sharper focus on simplification of compliance and regulation, job creation and skilling of unemployed youth, and swift action on sub-sectors of MSMEs that are under chronic stress, the Karnataka Small-Scale Industries Association (KASSIA) said in a memorandum submitted to Chief Minister B S Yediyurappa, who is also the finance minister, on Monday during the pre-budget meetings with industry bodies.

KASSIA urged the government to give the approval to set up the Peenya Industrial Township Authority, which has been pending for nearly two decades, and develop industrial townships in small land parcels of 10 acres to accommodate micro and small enterprises which was mooted in the previous Industrial Policy of 2014-19.

It urged the government to take steps to reduce the authority in individual tax inspector’s hands, which is the primary source of harassment of MSME entrepreneurs. It asked the government to come up with relief packages for the sector.The Federation of Karnataka Chambers of Commerce and Industry highlighted a lack of investment in regions other than Bengaluru, frequent revisions to GST regulations and issues related to land acquisition. 


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