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MSME Task Force recommendations in implementation mode, says Dinsha Patel
SME WORLD Bureau
Apr 2010
Apr 2010
Minister of State for MSMEs Dinsha J. Patel said that his Ministry has already started time bound implementation of the recommendations made by the Prime Minister's Task Force for MSMEs sector. Patel was delivering his inaugural speech at the National Conference of MSMEs on Marketing & Finance jointly organised by AICOSMIA and Helpline Twenty First Century in New Delhi recently.
The Minister appreciated the important necessity of adequate credit delivery to MSMEs for their success, especially in the existing economic scenario and informed that Public Sector Banks enhanced the 20 per cent finance to MSME sector as per the policy package for stepping up credit to Small and Medium Enterprises which was formulated to double the flow of credit to the sector in five years.
Dinesh Rai, Secretary, MSME in his keynote address, said that MSME sector played a vital role in economic growth of India. “Today the sector is able to deliver the quality products at competitive price and created a global image. The Ministry of MSME appreciates the need to simplify of procedure and relax compliance provisions so that they devote fully to productive work rather than diffusing energy to comply with the formalities.”
On a suggestion made regarding setting up of a MSME bank for exclusive lending to the sector, he responded that this might not be the ideal solution. “Instead a suitable mechanism may be worked out for utilizing existing banking infrastructure for more attention to lending to MSME sector.”
Madhav Lal, IAS, Addition Secretary & Development Commissioner, Ministry of MSME stressed on an urgent need of a mechanism to abridge the information gap to 'facilitate the MSMEs avail the full benefit of the policies and schemes of assistance.' He gave a detailed description of various schemes of the Ministry and made special highlights on Cluster Development, NMCP programmes urging the enterprises to take full advantage of them.
NSIC's Chairman and Managing Director, Dr. H. P. Kumar was pleased over the overwhelming response regarding the skill development programme started by NSIC. He also announced that NSIC had started additional shifts for these programmes which were more fruitful to MSME sector and informed that 121 branches of NSIC existed at present and planed a three-fold expansion.
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