Friday, November 22, 2019

Posted at: Jun 15, 2019, 7:48 AM; last updated: Jun 15, 2019, 7:48 AM (IST)

Traders want focus on MSME

Tribune News Service

Amritsar, June 14

Border district industrialists and traders expect a favourable Central budget to lift the sagging morale of the medium enterprises.

The NDA-2 government will present its first budget on July 5. Earlier, the government had unveiled the interim budget before the General Elections which did not have much to offer for the MSME and border industries.

Punjab Pradesh Beopar Mandal (PPBM) president PL Seth said the country was home to 70 million units under the MSME employing nearly 28 crore people. Apparently, the MSME is the mainstay of the state’s industry. He sought increase in the budgetary allocation from previous Rs 189 crore to Rs 2,500 crore in the coming budget.

“An MSME development institute must be opened in the holy city which should cater to all border districts to boost industrialisation. It will ultimately generate employment and check drug menace among youth.”

A pharmaceutical exporter, Raman Gupta, said the MSME sector was facing the problem of GST compliance. He said the interim budget had offered 2% rebate on loan to upcoming units in the MSME sector while there was no such benefit to the existing units, which are under tremendous global competition. He demanded that the rebate must be extended to the existing MSME units as well.

An entrepreneur, Gunbir Singh, said the interim budget was a please-all exercise. The ensuing budget must give direction to the nation’s youth, who requires a high growth trajectory in industry to become a force multiplier in job creation.

Once called Manchester of India, the holy city should be chosen for affordable housing scheme, as per Central budget 2017-2018, he added.


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