Credit crunch faced by the small and medium sector amid global economic slowdown would figure in the first meeting of the task force headed by Prime Minister's Principal Secretary T K A Nair here tomorrow.

Prime Minister Manmohan Singh had constituted the task force to consider various issues that have been raised by MSME Associations.

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There are about 2.61 crore Micro, Small and Medium Enterprises (MSME) in the country which contributes 40 per cent in India's exports.

The 11-member Task Force has been asked to draw up an agenda for action for the MSME sector.

The other members of the Task Force include Planning Commission Member Arun Maira, Finance Secretary Ashok Chawla, Labour Secretary PC Chaturvedi and Secretary MSME Dinesh Rai.

The MSME sector is also seeking bank loans at par with the farm sector or at less than 8 per cent.

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