Chennai: The Consortium of Indian Associations (CIA) has said there is gross indifference to micro and small enterprises. ‘Even after 75 days, ECGLS has not reached 25 per cent of disbursal or beneficiaries estimated. Instead of understanding the issues in the scheme and relaxing the conditions, the government has included all medium scale industries and professionals just to complete the target of disbursal,’ CIA said in a statement.
K E Raghunathan, convenor of CIA, wants eligibility to all MSEs, removal of additional security creation for the loan, reduction of interest rate and simplification of documents, among other things.
‘With coronavirus spreading to Home Minister, Governor, Chief Ministers, Ministers, MPs, MLAs and celebrities, the fear in the common man is much higher even though lockdown has been relaxed. Rain is also spoiling the business opportunity. MSEs are bursting and unemployment will be visible from August as notice period to relieve will be over. NPAs are expected to touch 30 per cent by December if reschedule of loans are not done,’ he said and added that the ground level seriousness is not being felt or redressed .