The micro, small and medium enterprises (MSME) in Jalandhar is likely to benefit from the demonetisation exercise undertaken by the Prime Minister Narendra Modi-led Bharatiya Janata Party (BJP) government in the long run, said panelists at the Business Standard panel discussion on “Business Outlook for 2017 National
& International Trends.
” The Smart Business Event was organized in association with Jalandhar Management Association
in Jalandhar on January 18.
Rajesh Kharbanda, Managing Director Freewill Sports Private Limited, said the trend for the next year would be ‘honesty’. The demonetisation move was long-overdue and it benefit the country in the long run. Informal economy where people didn’t pay taxes would be out of business and only the big companies would grow, Kharbanda added.
Sudhir Gera, Director Operations Koel Greens, said enterprises were expecting an early implementation of the Goods and Services Tax (GST) and reduction in the Corporate Tax from the Union Finance Minister in budget. He said the next year would be dedicated to capacity building with zero tolerance for defects.
Ahsanul Haq, President Jalandhar Management Association, felt that the government need not announce new measures in the budget. Haq said the existing policies of the government were sufficient and they should be implemented effectively.
Sanjeev Juneja, Convener PHD Chamber of Commerce & Industry, said the Union government should become more aggressive in publicizing its schemes and incentives for the micro, small and medium enterprises.
RK Parmar, Assistant Director Ministry of Micro Small and Medium Enterprises Government of India, said the present government was serious about promoting the interests of the industry and has made all its schemes available on its website. Individually we can’t reach out to every businessman, but the industry associations and bodies must reach out to their respective members and educate them about the government’s new initiatives, Parmar said.
Ashok Sethi, Managing Director Fine Switchgears & President Laghu Udyog Bharti Phagwara, said the Union government was working in the right direction.
Nidhi Raj Sharma, Deputy Director Department of Industry Interface at Lovely Professional University, said they were creating a platform where small and medium scale enterprises would be available to upload their work related data for free. He said the university was closely working in association with the MSME department and the industry.
(This story has not been created or edited by Business Standard editorial staff.)