The report submitted by the Task Force has made recommendations on policy/programme support, institutional matters and legal/regulatory measures for the growth of MSMEs in the country. The recommendations cover the areas of credit, taxation, labour issues, infrastructure/ technology/skill development, marketing rehabilitation and exit policy.
Union Cabinet Minister for Micro, Small and Medium Enterprises, Virbhadra Singh said in the Lok Sabha on Thursday that the Prime Minister’s Task Force on Micro, Small & Medium Enterprises (MSMEs) had submitted its report to Prime Minister. The report submitted by the Task Force has made recommendations on policy/programme support, institutional matters and legal/regulatory measures for the growth of MSMEs in the country. The recommendations cover the areas of credit, taxation, labour issues, infrastructure/ technology/skill development, marketing rehabilitation and exit policy and special measures for North-Eastern Region and Jammu & Kashmir. The detailed report of Prime Minister’s Task Force on MSMEs is available on msme.gov.in, the website of the Ministry of MSME.
Majority of the recommendations of the Task Force have been accepted and implemented by the Government. The major amongst these are: A Public Procurement Policy for micro and small enterprises (MSEs) has been approved by the Government. Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) have launched SME exchange/platform. The Factoring Regulation Bill, 2011 has been passed and the Act published in the Gazette. Instructions have been issued to banks regarding targeted growth of credit to the MSE sector. Implementation of these instructions is monitored regularly. Under Capital Investment Subsidy Scheme, the Subsidy provided for MSMEs in Jammu & Kashmir has been brought at par with North-Eastern region.
Under the North East Industrial and Investment Policy, 2007, the subsidy for MSMEs has been allowed for subsequent expansion in the case of existing units. MSME Helpline has been launched with a toll free number 1800-180-6763. To strengthen National Small Industries Corporation (NSIC), infusion of equity of Rs.300 crore in three tranches has been approved by the Govt. In 2011-12 Rs.155 crore has been released to NSIC as first tranche.
