Government Sops for SMEs Welcomed by Entrepreneurs
Micro, Small and Medium Enterprises (MSMEs) in India now have reason to feel upbeat, if some recent steps taken by the Government of India are to go by. In order to boost MSME productivity and encourage exports, the government is reportedly considering a hike in the sub-limit within priority sector lending for the micro sector, from 4.9 per cent to 6 per cent. To top it, a credit monitoring cell is also being set up to resolve issues that MSMEs face in their dealings with banks.