SATISH HANDA
Micro, Small, Medium Enterprises (MSME) as well as real estate industry in the country were adversely affected by ‘Notbandi’ declared by the government in the country in year 2016 still economic condition of these industries are away from the track although years have passed, which has severely affected overall industry in the country since large industry is dependant on MSME not only for the production as well as create sources of employment. The entrepreneurs of MSME facing financial crisis since past many years expect relief in new budget. According to information, the situation of such collapsing industry was brought in the knowledge of Prime Minister Narender Modi and Finance Minister Nirmala Sitaraman when a high level meeting was held in this regard and measures discussed how to inject energy and save dyeing micro and small industry in the country.
According to Anil Bhardwaj General Secretary Federation of Indian Micro, Small and Medium Enterprise, financial burden is major problem faced by small and medium industry today in a developing country like India since after ‘Notbandi’ declared in the country and encouragement to digital payment system was introduced in trade and industry, failed to bring relief to small industrial units due to shortage of cash investment severely affected their business as such for their survival such industrial units need immediate relief to make available working capital investment to run their business. Bhardwaj said that in-spite of assurances by the government as well as Reserve Bank of India, banks as well as NBFC are hesitant to provide financial loans to industry turning sick day by day in the absence of finance. He said, shortage of working capital is major problem faced by small scale industry in the country at present since these manufacturers have to recover amount worth crores of rupees from the government as well as large companies in private sectors against material supplied to them, most them have declared themselves bankrupt and cases against them are under trial in the courts. Bhardwaj said, such small manufacturers are still hoping that government would declare some relief to enable these small manufacturers get their payments in present financial budget.
People in real estate industry in the country, too, facing recession since a long time and hope to get status of industry and attractive support by the government for survival of their business enabling to fulfil Prime Minister Narender Modi’s dream that every family in the country to have their own house by the year 2022 as such all those in real estate business demand government to establish single window clearance system and declare industry status to real estate business apart from financial support for amount worth Rs 25000 crores assured in the year 2019.
