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Good News for Micro, Small & Medium Enterprises, Government will provide financial assistance to MSMEs for listing on National Stock Exchange

October 21, 2019
Good News for Micro, Small & Medium Enterprises, Government will provide financial assistance to MSMEs for listing on National Stock Exchange

The government is set to introduce a new scheme to help MSMEs raise funds. Under this scheme, the government will provide financial assistance to MSMEs listed on the National Stock Exchange (NSE) or bringing their equity. The MSME Ministry is seeking a fund from the Ministry of Finance for this work. According to Union MSME Minister Nitin Gadkari, he has demanded Rs 10,000 crore from the Finance Ministry for this item.

So that all the MSMEs who bring equity in NSE or Capital Market will be given 10% amount as financial assistance from the Ministry. According to Gadkari, he is confident that the equity price of those companies will increase 3-4 times in two-four years. He said that MSME is the heart of the economy. Expected to come out of huge demand for Khadi in two-three years In a program, Gadkari said that the Prime Minister has set a target of making India's economy $ 5 trillion.

To achieve this, the growth engine of MSMEs needs to be accelerated further. He told that there is a preparation to make readymade garment in the rural area so that the migration from the rural area can be stopped. 13 clusters have been sanctioned where readymade garments will work. Khadi clothing will also play a big role in this.

In villages, clothes will be made with solar charkha and then print on them and make them fit for use domestically and internationally. The ministry is seeing huge potential for both employment and business in Khadi and is expected to generate huge demand for Khadi in two-three years. Government is not behind in imposing duty for promotion of MSME The government is also increasingly working to impose duties on imported goods to encourage MSMEs to give a boost to the domestic small industry. The Ministry of MSME has asked the Ministry of Commerce to give a list of the items to be imported so that it can be found out what items can encourage MSMEs by discouraging imports.

Recently, on the recommendation of the MSME Ministry, a duty of 30 % was imposed on the import of wooden spoon for eating ice cream. The ministry is also planning to bring a portal for marketing of goods manufactured by MSMEs like Amazon and Flipkart. So that MSMEs have no difficulty in selling their goods.

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