The MSMEs demanded the government to fix ‘creation of value addition facility’ in the State as a prerequisite condition for the lessees participating in the auctions for bauxite mining.
It is identified that the MSME sector holds immense potential in fostering energy efficiency and up-gradation of the technologies.
The State government will release Rs 1,124 crore as incentives to support Micro, Small and Medium Enterprises (MSMEs), textile and spinning mills, on Friday.
The Insolvency and Bankruptcy Code (Amendment) Bill, 2021 provides for a pre-packaged insolvency resolution mechanism for micro, small and medium enterprises.
The panel report also stated that the Emergency Credit Linked Guarantee Scheme has recorded a high success rate, yet, only around 50 per cent of the total guarantee amount has been issued to MSMEs.
Before Rane, Nitin Gadkari was holding the post of Union Minister of Micro, Small and Medium Enterprises. Currently, Gadkari is the Union Minister of Road Transport and Highways.
Nitin Gadkari, who holds MSME portfolio along with road transport, said GST will help achieve the goal of USD 5 trillion economy by 2025, despite it troubling the MSME sector.
According to Mundra, banks were focusing retail loans in order to reduce exposure to large corporates, but there’s a limit to which it can be of help.