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AIAI welcomes SOPs to MSMEs

Tuesday, January 03, 2017

Various SOPS announced by the Prime Minister Narendra Modi, include enhancement of the credit guarantee limit for Micro, Small and Medium Enterprises (MSMEs) from Rs 1 crore to Rs 2 crore including NBFCs will give much needed credit liquidity to the stressed MSMEs. He has further asked banks to increase working capital loans from 20% to 30% for enterprises that transact digitally. He has also raised cash credit limit for small business to 25% from 20%. This will help MSMEs in light of credit crunch being faced post demonetization.

Various SOPS given to farmers, small traders along with enhanced cash withdrawals are some of the welcome features pronounced by Prime Minster Modi, said Vijay Kalantri, President, All India Association of Industries (AIAI).

However AIAI feels there is a strong need to review and push various incentives to MSMEs that are pending since long. These should be expedited at the earliest as MSMEs are the vibrant sector and the backbone of the Indian economy.

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