The Coimbatore District Small Industries Association (CODISSIA) has appealed to the Union government to relax some of the mandates under GST, Income Tax, and bank loans for Micro, Small and Medium-scale Enterprises (MSMEs) to spur growth.
Association president M. Karthikeyan said in a memorandum submitted to Union Finance Minister Nirmala Sitharaman that pre-closure charges should not be levied to MSMEs when these units go for pre-closure of bank loans. The Reserve Bank of India should make this a norm for all banks. Since banks are reluctant to provide loans under the Credit Guarantee Fund Trust for Micro and Small Enterprises scheme, a district-level monitoring committee should be constituted under the chairmanship of the Collector and its members should include the head of the District Industries Centre, district lead bank and MSME Association heads to monitor implementation of the scheme.
Source: The Hindu
Share this content: