Reacting to the union budget, Consortium of Indian Associations, Convenor, K.E.Raghunathan said that no announcement on control of high raw material cost, exemption from capital gains etc very disappointing.
Coimbatore: Consortium of Indian Associations, Convenor, K.E.Raghunathan said:
“Lots of efforts to put economy growth in place with a visionary, futuristic plan of action. Congratulations Madam Finance Minister.
From the point of view of Micro enterprises, self employed GIG workers who are impacted due to covid, this is a disappointing Budget . The announcement and allocation of Rs.6,000-cr over 5 years for ramp program is a most required but the outlay is very meagre and requires detailing on eligibility conditions.
If the employers are not saved, how will employment opportunity be generated and whom are we creating skilling? While skilling is required , the opportunity for employment is more important.
We seem to have made ECGLS scheme as a scapegoat. While even Rs.3-lakhs cr is not fully utilised as on date, we added Rs.1.5 l-cr was added last year and now 50k cr. What is required is modification in eligibility criteria.
What we need is data on MSME and not by mere linking of portals which are known failures. Sad there is no announcement to offer specific packages for sectors affected.
It is very disappointing there is no announcement on control of high raw material cost, exemption from capital gains, ease of closing business who are unable to continue or died in covid with a OTS , NPA norms relaxation for stressed sectors , GST exemption limit raising to 2 cr at least , reduction in GST rates for health insurance, Delayed payment outstanding receipts remain unsolved in spite of several assurances for last 2 years, support with containers for small exporters , job creation incentive for micro enterprises , revision in RoDTEP rates, creation of exclusive Development Commissioner for Micro Enterprises, ease of access to loans by struggling enterprises etc which are immediate needs to save entrepreneurs for existence.
Another year of disappointment for self employed, micro entrepreneurs, informal employees belonging to stressed sectors, who could not function purely due to covid control measures.
There is no immediate relief but only promises for future." he said.
“Lots of efforts to put economy growth in place with a visionary, futuristic plan of action. Congratulations Madam Finance Minister.
From the point of view of Micro enterprises, self employed GIG workers who are impacted due to covid, this is a disappointing Budget . The announcement and allocation of Rs.6,000-cr over 5 years for ramp program is a most required but the outlay is very meagre and requires detailing on eligibility conditions.
If the employers are not saved, how will employment opportunity be generated and whom are we creating skilling? While skilling is required , the opportunity for employment is more important.
We seem to have made ECGLS scheme as a scapegoat. While even Rs.3-lakhs cr is not fully utilised as on date, we added Rs.1.5 l-cr was added last year and now 50k cr. What is required is modification in eligibility criteria.
What we need is data on MSME and not by mere linking of portals which are known failures. Sad there is no announcement to offer specific packages for sectors affected.
It is very disappointing there is no announcement on control of high raw material cost, exemption from capital gains, ease of closing business who are unable to continue or died in covid with a OTS , NPA norms relaxation for stressed sectors , GST exemption limit raising to 2 cr at least , reduction in GST rates for health insurance, Delayed payment outstanding receipts remain unsolved in spite of several assurances for last 2 years, support with containers for small exporters , job creation incentive for micro enterprises , revision in RoDTEP rates, creation of exclusive Development Commissioner for Micro Enterprises, ease of access to loans by struggling enterprises etc which are immediate needs to save entrepreneurs for existence.
Another year of disappointment for self employed, micro entrepreneurs, informal employees belonging to stressed sectors, who could not function purely due to covid control measures.
There is no immediate relief but only promises for future." he said.