‘MSMEs can play pivotal role to uplift rural economy’

 

 

 

UNION Minister of State for Animal Husbandry, Dairying and Fisheries and Micro, Small and Medium Enterprises Pratap Chandra Sarangi said, “MSMEs can play a pivotal role to uplift the rural economy of India and uplift the weakest sections of society”. He was speaking at a meeting recently while visiting the Laghu Udyog Bharati (LUB), central office at Nagpur. In the meeting, he had informal and prolonged discussion with the LUB members on various issues faced by the MSMEs and their probable solutions.

 

Sarangi urged organisations like LUB to become independent by creating a bank of entrepreneurs, citing examples of how other organisations have taken similar steps. Bhushan Viadya, National Vice-President of LUB in his opening remarks introduced the organisation in brief and thanked the Central Government in and MSME department in particular for their most considerate and responsive attitude towards issues and problems of MSMEs, especially during the COVID-19 pandemic period.

 

Vaidya also introduced a revolutionary proposal from Laghu Udyog Bharati, for removing the subsidy given to the industry entirely and instead replacing the incentives by interest subvention etc., which is a direct help to the genuine MSME entrepreneurs and misuse can be avoided. Ravleen Khurana, LUB President, Nagpur Unit emphasised upon the importance of trained and skilled manpower for which the Government can provide a pool of experts which can solve the problem. Alok Pahune, Secretary, LUB Nagpur elaborated upon the issues with schemes like Credit Linked Capital Subsidy Scheme. Sudhakar Atre, Banking & Finance Advisor and Member of All India Banking & Finance Committee, LUB presented the MSME handbook written by him to the Minister.

 

Atre explained that in the NCLT’s resolution process MSMEs do not get proportionate representation because the value of their outstanding put together is much smaller than the large scale creditors who get to be the member negotiators. Sunil Sirsikar, All India Secretary, LUB stated that for a more effective implementation of all financial schemes and banking policies, Union Government should appoint a committee headed by DI-MSME which will oversee the implementation of such schemes by the banks and NBFCs at ground level as a nodal authority. Sarangi acknowledged all the issues raised and assured that he would see to it that all issues are resolved at proper levels. Present were Ashok Dharmadhikari, Joint Director, Industries, Government of Maharashtra, P M Parlewar, Director, MSME-DI, Nagpur, Shrikant Dhondrikar and Udayan Shrouti, President and Secretary of LUB Nagpur Vibhag, respectively. Meera Joshi of LUB Nagpur proposed a vote of thanks.