MSME Board deliberates on sector-specific issues

The National Board for Micro, Small & Medium Enterprises chaired by Union Minister Kalraj Mishra met today to discuss issues related to the MSME sector, including revision of the definition of MSMEs, framework for revival and rehabilitation of MSMEs, among others.
"The special focus of the meeting was on action plan for Make in India, revision of the definition of MSMEs, framework for revival and rehabilitation of MSMEs, portal for EM online filing, Udyog Aadhaar registration...
"... Assessing Prime Minister Employment Generation Programme (PMEGP), revamping SFURTI, scheme for promotion of innovation, rural industry and entrepreneurship (ASPIRE), Mudra Bank, etc," an official release said.

At the meeting, Mishra said the MUDRA Bank will prevent small entrepreneurs from exploitation at the hands of money lenders and will instill new confidence in them.
He also said that the MSME Ministry is going to be a major plank in the government's Make in India initiative.
The Minister also mentioned that the web portal Digital Employment Exchange for industry launched recently will go a long way in enabling industrial units to find suitable manpower and job seekers to find suitable jobs.

Regarding modification of SFURTI, the Minister stated that the modified scheme now looks at economic development and job creation as well as allows for multiple products as the basis for clusters.

On sickness in MSMEs, non-performing assets and exit policies, the Minister said that these are some of the areas which have been causing difficulties for MSMEs.
Therefore, there is a need for special dispensation for revival and exit of MSMEs.
He also elaborated on the framework for revival and rehabilitation of MSMEs.
Under the framework, any enterprise can seek revival and rehabilitation benefit through a committee constituted by banks with representatives from state governments, experts and others.