Help MSMEs : KTR asks Centre

Industries and Municipal Minister KT Rama Rao today urged the Centre to redefine Atma Nirbhar Bharat scheme to help the industrial sector.

In a letter addressed to Union Finance Minister Nirmala Sitharaman, KT Rama Rao has said that the scheme was not of much use for the industry sector. Due to corona effects and lockdown many industries medium and small face losses and difficulties in production.

There is a need for redefining the Atma Nirbhar Bharat scheme to help this sector, he said.

Though Rs 20 lakh crore package was announced under this scheme the industrial sector failed to get any help he deplored.

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About 80 per cent of MSMEs suffered difficulties and 25 per cent incurred a heavy loss of revenues he said.

The minister also said that the Centre offered Rs 3 lakh cr under guaranteed emergency funds for the industry. However, the industry sector does not feel it of much use as they did not get any financial assistance.

So there is a need to provide some help to the industrial sector through the central packages, KT Rama Rao said.

He further asked the Centre to see that PLI helps the MSMEs to sustain and develop by setting up a supply chain mechanism.

SOURCE-NSS