Hope MSMEs get priority in Budget: Kalraj Mishra

MSME sector contributes around 9% to India's GDP

Micro, Small & Medium Enterprises Minister Kalraj Mishra hopes that the sector would be accorded priority through favourable policies in the upcoming Budget.

“We hope that micro, small & medium enterprises (MSME) get priority in the Budget and the economy becomes robust,” Mishra said.

The MSME sector contributes around 9 per cent to India’s GDP. It accounts for as much as 30 per cent of the country’s total exports and 45 per cent of its manufacturing output. Finance Minister Arun Jaitley will present the General Budget on July 10.

Earlier, Mishra had said the government was working on simplifying processes to facilitate MSME entrepreneurs and a separate policy for this sector was on the anvil.

The MSME Ministry has also been seeking a single-window clearance mechanism along with setting specific timeframes for grant of loans, easier labour laws and simplification of processes as part of roadmap to revitalise the sector.

Asked about his efforts towards fixing the difficulties faced by the MSME industry, Mishra said: “I am dedicating ample time to the Ministry and formulating new policies to improve the sector. I am also meeting MSME associations to understand the issues plaguing the sector and will try to resolve their problems”.

The minister said he is taking routine review meetings with senior officials to expedite clearance of files.

On Prime Minister Narendra Modi, Mishra said: “He is extremely hardworking and fully dedicated to his work. He is a source of inspiration for all of us and motivates us to perform our duties in the best possible manner”.