The Tamil Nadu Association of Cottage and Micro Enterprises has demanded that the central government takes steps as the Micro and small industries sector are facing a financial crisis, that might lead to unemployment, starvation, putting the country's stability at stake.
Coimbatore: The TACT has demanded that the centre takes steps to safeguard industries, due to the rising financial crisis they face.
The TACT, Tamil Nadu Association of Cottage and Micro Enterprises appealed to the centre to protect the micro and medium enterprises (MSMEs). The association issued a statement with regard to the issues they are facing. Agriculture and Industries considered as the two eyes of the country. The one country one GST, pandemic, especially the demonetization were 500s and 1000s were declared void has worsened the situation for industries compared to agriculture currently. "The industries are in a state where they are stuck in a Tsunami-like situation", it added. Adding that the industry, whichprovides maximum job opportunities in the country, has been ignored by the leaders of the nation, the statement said that demonetisation destroyed lakhs of micro and small businesses. The implementation of GST is gradually destroying micro enterprises and the small scale industries were abandoned by the coronavirus-hit government.
The TACT alleged that certain corporate stake firms engaged in raw material production have been profiteering immensely by indiscriminately increasing the priceof raw materials to make a profit of lakhs of crores, which the government has been blind to care. Micro and small businesses across the country are being subjected to severe hardships by banks and private financial institutions and moneylenders, unaware of what they are doing because they have lost their machines and their families are humiliated.
The raw material price hike has led the industries to get orders whichever is available, but are struggling without proper payment, and questioned if the government thought none except the corporates are fit to live in the country. Pointing out that the Government has been waiving off loans worth lakhs of crores of rupees, the industry demanded to waive of loans below 25 lakhs and immediately implement a separate loan scheme for micro enterprises which do not have access to bank loans.
"Immediately set up a pricing committee to prevent price rise of raw materials for the smooth running of business in the country with subsidy. Listen to our demand on the shortcomings in GSTs and for the betterment of the country and its people, make ways to improve the MSMes sector, not just the corporates. The identities of micro and small scale industries will be lost if they do not take urgent care to protect them."
The statement added that hunger and starvation deaths will increase if the stability of the country becomes questionable as unemployment increases. Small entrepreneurs will be forced to suffer because they cannot bear the burden of debt. They demanded the MPs to address their plight at the parliament and demanded the 'ruling party industries' to redress the industries actual situation to help the industry get out of the situation.
The TACT stated that this statement was an outburst of the agony they are going through and not an expression of political vendetta.
The TACT, Tamil Nadu Association of Cottage and Micro Enterprises appealed to the centre to protect the micro and medium enterprises (MSMEs). The association issued a statement with regard to the issues they are facing. Agriculture and Industries considered as the two eyes of the country. The one country one GST, pandemic, especially the demonetization were 500s and 1000s were declared void has worsened the situation for industries compared to agriculture currently. "The industries are in a state where they are stuck in a Tsunami-like situation", it added. Adding that the industry, whichprovides maximum job opportunities in the country, has been ignored by the leaders of the nation, the statement said that demonetisation destroyed lakhs of micro and small businesses. The implementation of GST is gradually destroying micro enterprises and the small scale industries were abandoned by the coronavirus-hit government.
The TACT alleged that certain corporate stake firms engaged in raw material production have been profiteering immensely by indiscriminately increasing the priceof raw materials to make a profit of lakhs of crores, which the government has been blind to care. Micro and small businesses across the country are being subjected to severe hardships by banks and private financial institutions and moneylenders, unaware of what they are doing because they have lost their machines and their families are humiliated.
The raw material price hike has led the industries to get orders whichever is available, but are struggling without proper payment, and questioned if the government thought none except the corporates are fit to live in the country. Pointing out that the Government has been waiving off loans worth lakhs of crores of rupees, the industry demanded to waive of loans below 25 lakhs and immediately implement a separate loan scheme for micro enterprises which do not have access to bank loans.
"Immediately set up a pricing committee to prevent price rise of raw materials for the smooth running of business in the country with subsidy. Listen to our demand on the shortcomings in GSTs and for the betterment of the country and its people, make ways to improve the MSMes sector, not just the corporates. The identities of micro and small scale industries will be lost if they do not take urgent care to protect them."
The statement added that hunger and starvation deaths will increase if the stability of the country becomes questionable as unemployment increases. Small entrepreneurs will be forced to suffer because they cannot bear the burden of debt. They demanded the MPs to address their plight at the parliament and demanded the 'ruling party industries' to redress the industries actual situation to help the industry get out of the situation.
The TACT stated that this statement was an outburst of the agony they are going through and not an expression of political vendetta.