A vision and strategy document outlining a plan for increasing India’s exports of goods and services is being prepared by the commerce ministry. It requested input from the industry and provided a list of subjects to be covered in the text. By the end of this month, the document is anticipated to be finished and published.
The private companies have benefitted the most which is followed by the propetiership. In the list, Gujarat tops the list with the biggest beneficiary followed by Maharashtra, TamilNadu and Uttar Pradesh. However, extending the issue will not help MSMEs.
At the time of th launch, the rider conditions were pointed out which also related to the account status and the outstanding loan criteria which makes it difficult for the MSMEs to avail the scheme. Banks are insisting on the loans and the beneficiaries. This was against yhe moratorium dues and outstanding statuory payments. According to the data of National Credit Gurantee Trustee Company Limited (NCGTC), the agency which is operating the scheme, gurantees the accounting of Rs.3.61 trillion and benefits 11.9 million borrowers as of January 31st ,2023. Out of this, 95.18% of the loans are coming to the total of Rs.2.39 trillion or 66.16% in value terms (to the MSME sector).
A point to be noted that, the scheme has already served its purpose during the pandemic period and left behind adequate channels of liquidiy available for small businesses. The union budget of 2023-24 did not announce fresh sets of measures to help MSMEs.
