Udyog Aadhaar Memorandum may be gazetted this week: MSME secretary, Dr Anup K Pujari

Govt. planning to increase investment ceiling for village industries

The one-page Udyog Aadhaar Memorandum introduced by the Ministry of Micro, Small and Medium Enterprises (MSMEs) has been approved by the government, sent for publication and is likely to be gazetted this week, MSME secretary, Dr Anup K Pujari said at an ASSOCHAM event.

We are planning to increase the financial limit on investment of a micro, small and medium entrepreneur for the village industries because I implement the KVIC (Khadi and Village Industries Commission) Act, said Mr Pujari while inaugurating the Day-2 of the Global Investors' India Forum organised by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

We are trying to link it to some prior number an enterprise would have got, said Dr Pujari.

We are also trying to encourage the entities, if you have got the Tax Identification Number (TIN) or PAN (Permanent Account Number) on the income tax please mention it on that, he added.

It will take a little time to let all stakeholders come on board, we have had discussions with all the state governments and all industry associations and have incorporated their suggestions, further said Dr Pujari.

Sharing his personal view on registration for entrepreneurs, the secretary said, My private view is that registration should not be there, it is just not necessary.

He also said that the MSME Development Act, 2006 which is being amended and has been placed before the Parliament and is unanimously recommended by the Standing Committee may be passed in the next session.

It will at least signal that whatever limits were fixed in 2006 were allied to the inflation and increase in the prices of machinery and therefore, the same limit need not continue and we must remove that limit and we must increase the limit, said Dr Pujari.

He also said that in the present scenario power is not a limiting factor for growth and development of MSMEs in the country. Besides, he emphasised that all banking and financial institutions have a significant role in the development of MSME sector in India.

He also said that in every procurement the vendor who succeeds has to have a small business development programme, whether it be called the vendor development or small business development, they have to have that programme as it will be part of the technical evaluation by the government.

While doing the technical evaluation we will not only look into the quality of the product that is being given, not only look into the technical parameters, but how you are going to develop your vendor, how you are going to pass on some amount of work so that there is ancillary activity that would come up, would also be considered, said Dr Pujari.

Further, the secretary stressed upon the need for the government and private sector to work together. We have to work together, nothing will get done only by government making the law, I think we are an over-regulated society and you should help us in not making more laws and regulations, we should work together and if in this there are difficulties we will consider.

Powered by Capital Market - Live News