CIA appeals parties to work towards reviving MSMEs

K E Raghunathan

Chennai: The Consortium of Indian Associations (CIA), Tamilnadu, has appealed to all political parties to include certain MSME-oriented relief measures in their manifestoes.

According to Raghunathan K E, CIA convenor, some of the measures that will ease the existing burden on MSMEs in the country, are, supporting all entrepreneurs/ owner-driven enterprises/ micro enterprises, to be saved from huge costs and times of engaging consultants to file cumbersome statutory returns, by creating extended E-SEVA centres across every district and offer free of cost the service to needy entrepreneurs.

“Waive all taxes such as property tax/ water tax / profession tax from MSME units for next two years. State shall mandate purchases from TN registered companies up to Rs 100 crore, thereby promoting local enterprises with order book/ revenue.  State shall offer additional loans to local MSME units up- to 40 per cent of their existing limits with concessional rate of interest to tide over Covid -19 crisis, by guaranteeing such additional loan,” he said.

“MSME units are facing acute raw material price/shortage and unable to complete orders on time and make expected profitability. State shall issue Ration card/ PDS system through SIDCO to all MSME situated in TN and supply raw materials at nominal cost/ nominal credit/ good quality so that the MSME units are able to survive and save from inflation and from unscrupulous price charged by traders,” he suggested.

“To encourage new start up enterprises TN through TIIC shall offer working capital loans to all MSME units at five per cent interest rate from Banks which are headquartered in TN, and to engage freshers to serve in local MSME units as trainee for six months, with a stipend of Rs 6000 pm for six months,” he said, adding that if any local MSME units wanting to sell their existing properties to close loan outstanding or to infuse capital into business, these shall be exempted from registration charges and reimbursed with any long-term capital gain taxes imposed by the government.


NT Bureau