Simplify Compliance Procedure For MSME

Now here comes an order from the Center to the State to simplify the Compliance procedures for micro, small and medium enterprises (MSME) to address issues related to availability of credit facilities and skilled man-power.

A meeting was called upon by the Union MSME minister Kalraj Mishra for the purpose. The ministers and principle secretaries from all the States and Union Territories participated therein. The Union minister focused on the major problematic areas that MSMEs are facing that needs immediate attention. Some of these are:

• lack of availability of credit facilities,
• lack of technology advancements,
• lack of skilled man-power,
• absence of proper infrastructure and
• higher cost on regulatory compliances

All the state governments have again been requested to work in all these areas requiring attention and that becomes even more important after the ease-of-doing business campaign in India.

MSME Act was introduced for the purpose of promoting and facilitating ease of doing business which covered all categories of enterprises including proprietorship, Hindu Undivided Family, association of persons, co-operative society, partnership firm, company or undertaking to facilitate overall growth.