PM’s Diwali gift for MSMEs

Kashmir Times. Dated: 11/6/2018 12:09:27 AM

Dear Editor
This is going to be a historical Diwali for Indians as Prime Minister Narendra Modi launched a "Diwali gift" in the shape of finalising 12 policies to boost the sector of micro, small and medium enterprises MSMEs. The announcement of a 59-minute loan facility of up to Rs 1 crore for small and medium businesses was one of the key decisions. As the MSME sector play a vital role in employment, it constitutes a vast network of over 63 million units and employs 111 million people, contributing around 30 per cent to the GDP. PM Modi's such industry-friendly initiatives will surely boost the economy, decrease unemployment and encourage each and every Indian to venture out and explore their entrepreneural skills. My heartiest gratitude to PM Modi for taking public centric speedy decision. However, he should also form a system to ensure that the loans are repaid on or before time.
--QB Malik
New Delhi

 

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