New Definition of MSME will help Industry to Avail Benefits ,Much more was expected

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News Punjab

Ludhiana, may 13 – Sr. Upkar Singh Ahuja, President & Sh. Pankaj Sharma, General Secretary jointly said that  new definition of MSME, which will help MSME with higher slab of investment to avail benefits.

Yesterday, Hon’ble Prime Minister Sh. Narender Modi announced a package for 20 Lac Crore for self-reliance India. Industry was quite hope full that it will be a ray of hope for MSME reeling under tremendous pressure. Today, announcement made by the Hon’ble Finance Minister, Govt. of India were not sufficient. Collateral free loan was announced for 3 Lac Crore, there is already a scheme for Collateral free loan, Banks never give the same due to risk of increase in NPA, Govt must insure that bank should extend these loans to the industry.

Tenders up to 200 crores will be called domestically is a good step.

They also emphasized that Industry demanded more package like technology upgradation funds to make india self-reliant , Finance to be provided at low cost export incentives for MSME.