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Budget 2015: Will MSMEs get a booster?
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Bikky Khosla | 24 Feb, 2015
The Budget is ahead and I don't want to miss this opportunity to call for stronger support for the micro, small and medium enterprise sector. Over the past few weeks we have discussed a number of challenges facing the sector and measures that are considered urgent for addressing them. Readers' opinions have also been gathered on a broad array of topics relevant to the sector. Some budget recommendations sent to us by our members have been forwarded to the MSME ministry. Finance minister Arun Jaitley will present the Union Budget on Saturday and ahead of it, let's look again at some major issues and priorities for the MSME sector.
Lack of availability and high cost of credit, needless to say, is one of the biggest hurdles. The Finance Minister has to find ways and means to address this problem. I think the sector urgently needs steps to incentivize banks into giving MSME loans, make it compulsory for banks to extend a certain percentage of total assets as loans to the sector, implement strictly the Credit Guarantee Scheme for collateral free loan, and encourage more and more businesses to participate in the SME exchange. Most importantly, any policy measure taken in this direction must be supported by implementation in the right manner.
As per as taxation is concerned, I think the burden on the MSME sector can be eased significantly by measures like increase in exemption limit of excise duty, reduction in central sales tax, rebate in income tax, increase in threshold limit of levy of service tax, etc. Similarly for firms involved in exports, steps to ensure faster payment of duty drawback and central excise rebate claims, continuation of the duty drawback scheme, removal of MAT and DDT on SEZs, bringing of export under priority sector lending, etc. should be introduced in the Budget.
Some other major areas to look into would be revisiting the MSME definition by including parameters such as turnover and employment for defining them, setting up of specialized funds for start-ups, easier exit norms to facilitate easy exit for insolvent units, enforcement of 20% mandatory purchase from MSMEs, tax deduction on adopting new technologies, strict implementation of the MSMED Act clause for release of payments to MSMEs within 45 days, etc. In addition, efforts must be made to extend incentives for MSMEs under the newly launched flagship programmes like 'Make in India', 'Digital India' and 'Skill India'.
I invite your valuable opinions.
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Delayed Payment TO SME by Government PSU's
Manish Mehta | Sat May 16 12:00:49 2015
Sir, As per MSMED ACT 2006 delayed payment clause should be in-forced on all the companies without exempting Government PSU Specially State run PSU's. This clause should be managed and frmaned in such a manner that anybody responsible should be punished with financially and legally. Companies officials often deny making payment within time and force SME to go through the business. Since the SME has already rendered its services or supplied goods to them they have to accept the dictatorship of larger companies for their withheld payment. In these cases State runs PSU are the foremost and they compel SME to provide them whatever they want without worring about payment. Usually the conditions are payment within 30 days but how much these 30 days payment condition is followed. Government should check at what instant SME is getting his payment after rendering service and supply. These companies save huge amount of interest and when there profit goes up there are notes in public for their good financial control and better decision making abilities.
I just want to ask this is how we see MAKE IN INDIA making SME sector more vanurable by our own companies. If we dont follow our rules how can we assure other companies to follow.
In case these traditions are followed in future than i am sorry to say sir we will be again be slave of some larger cooperates sice our own government is making us toothless.
Please take difficult and necessary steps for SME survival.
Delayed Payment to SME By Government Companies
Manish Mehta | Sat May 16 11:55:19 2015
Sir, As per MSMED ACT 2006 delayed payment clause should be in-forced on all the companies without exempting Government PSU Specially State run PSU's. This clause should be managed and frmaned in such a manner that anybody responsible should be punished with financially and legally. Companies officials often deny making payment within time and force SME to go through the business. Since the SME has already rendered its services or supplied goods to them they have to accept the dictatorship of larger companies for their withheld payment. In these cases State runs PSU are the foremost and they compel SME to provide them whatever they want without worring about payment. Usually the conditions are payment within 30 days but how much these 30 days payment condition is followed. Government should check at what instant SME is getting his payment after rendering service and supply. These companies save huge amount of interest and when there profit goes up there are notes in public for their good financial control and better decision making abilities.
I just want to ask this is how we see MAKE IN INDIA making SME sector more vanurable by our own companies. If we dont follow our rules how can we assure other companies to follow.
In case these traditions are followed in future than i am sorry to say sir we will be again be slave of some larger cooperates sice our own government is making us toothless.
Please take difficult and necessary steps for SME survival.
Delayed Payment clause to be made more powerfull
Sanjay A Adbol | Sun Apr 12 15:19:56 2015
Dear Sir
Your view does not mention an iota of the above subject matter.
The present Act of delayed payment 2006 is toothless clawless and in disguise is more
tilted towards defaulter as we cannot force them to go in appeal.
Drastic steps to be taken to see that ssi industries remains free of outstanding payment.
Regards
clcss details
kuppa reddy | Tue Mar 10 08:45:53 2015
Sir i am applying clcss 5files in 2009to 2013 their is no reeply how to feed back need help
product packaging and resale with own bran
chhaya shinde | Sat Mar 7 15:17:34 2015
Dear sir.
I have
I am planning to setup small unit at rural area of nanded MH, finished onsumer products i will buy from manufacturers and sale those with my own companies & brand . is it includes in service sector if yes please guide me to whom I should approach.
which schemes are avaible with us. what is the procedure for that
regards
Boos-ing of MSME
Vikram | Wed Mar 4 20:16:19 2015
It is very nice and timely article which required and encourage commoon Middle Class whom are the runners of pillar to post holding MSME with sustainability task.
Many are written about and many Ministerial Declaration are their since india become Independence and regularly Ministers are declaring to syphon out with ease by Politico=beaurocratic alliance supported by 5 to 10% to Bank middle managers that senior managers are having congloerate to feed.
As long as their is no single window system for MSME operational by a team of MSME Officials, Banks, Niti ayog or planning Department, Technical experts, chartered Engineers, Scientits to receive an MSME enterprenuer & support with in tipulated time by providing required papers, funds etc with guideline to follow strictly
Timely visitation to monitor MSME & their capacity to produce support with any one of the R&D of the Govt or CSIR.
Then talk about MSME develop and national integration etc
It is worth a discussion
Other wise it is only like Kerala
Gods own Country
Devils are Ruling
Evils are are the SecurityV
excise exemption limit
I C Aggarwal | Tue Mar 3 18:37:00 2015
Long awaited demand of MSME to enhance the excise exemption limit from 1.5 crore was not considered. It is basic demand. Till the implementation of GST, excise exemption could have been increased. FM had also principally agreed during his speeches that this limit should be 5 crore. But he has taken no step in this budget. FM may Kindly reconsider it.
Support yay be given to ssi units
Rajesh kapoor | Thu Feb 26 18:30:00 2015
I appreciate ur initiative . I want to put in to notice that I have reach experience of 20 years in job and 4 years in business . I want to enter in production as ssi unit for plastic products. But when I inquired shocked to know that there is no cheaper loan or subsidy scheme available for purchase of machines and moulds and even for fulfilling liquid cash requirements . Than how one ssi unit will grow and how employment ratio will increase. Where is the statement of shri narendra Modi " make in India" if govt will support only big players to become more bigger and will offer all tax benefits and cheaper lands than how one experienced hand like me who can do miracles if chance given and support given by government , can perform. In every stage of business we are liable for different taxes, than how we will be encouraged in establishing a unit to employee few people. This is my complain as well as humble request to the Indian government to prove they are in favour on encouraging ssi units for better tomorrow. Also some special free trainings shall be conducted to simplify exports and to make ssi units aware about export Tecniques . This are must required if we really want to move ahead of country like china. I hope my mesaage will be forwarded and taken seriousely. Regards, for, surya ventures, Ahmedabad , Rajesh kapoor M-09825071761 email:- surya.ventures@ yahoo.com
Your Editorial on the budget
D E I Perera | Wed Feb 25 09:10:32 2015
Can I get it reproduced in a business newspaper in Sri Lanka, the DailyFT as the editorial has some important content.
Thank you
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Re: Your Editorial on the budget
SME Times News Desk | Wed Feb 25 10:09:19 2015
You may please go forward. Please mention the author name and source and send us the link (if online) to newsdesk@smetimes.in
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Loan Offer at 3% interest rate, apply now
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No infra
Ravindran | Wed Feb 25 06:10:46 2015
Industries are paying heavy property tax and no infrastructure or facility like water,proper roads,street lights,garbage clearing, proper drainage etc Also the panchayat should have proper guidelines in leaving the tax,not just say 5 to 10 rs per sqft with the discretion of the council.this gives room for burdening the industries.
Budget 2015: Will MSMEs get a booster?
Dr.S.Nath | Wed Feb 25 05:05:20 2015
A positive Approach
MSME Make in India
Vipin Gandhi Mumbai(9821030888) | Tue Feb 24 18:17:43 2015
I strongly support that for all PSU and Govt Organisation it should be mandatory to purchase ( local or Imports)20% of their requirement from MSME even at 5-10% higher rate than import cost.This will give moral/financial support to MSME and will give success to Make in India project.
MSMED Act
T P Malik - i-Diagnosis Telematics Pvt Ltd. | Tue Feb 24 17:52:58 2015
Making delayed payments / reduced payments and not making payments by larger organizations is a serious problem. This aspect definitely needs to be addressed at the earliest.
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