InvestorQ : What is the government planning do to reduce the pressure and stress on the MSME sector?
Riya Dwivedi made post

What is the government planning do to reduce the pressure and stress on the MSME sector?

Answer
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rhea Babu answered.
3 months ago


Nitin Gadkari has made some key announcements on how the government plans to tackle the travails of the MSME sector in the aftermath of the COVID-19 lockdown. Most MSMEs across the country struggled to keep their businesses running. The government is now coming out with a combination of policy measures to address the MSME stress.

Nitin Gadkari, who heads the ministry for MSMEs, has broadly outlined plans for the future including tackling the problems of unpaid dues of small businesses as well as getting foreign investors to put money into MSMEs. This includes easy funding options from banks, government guarantee for MSME funding, logistical support, tax breaks etc.

Gadkari also confirmed that migrant labour should not be a challenge as most industries dependent on migrant labour observe that migrants want to come back to their work places. Gadkari also sought to speed up necessary procedural approvals at a district level so that labour can seamlessly come back and resume work at factories and sites.