FSME bats for more steps to support MSME sector

The Federation of Small and Medium Enterprises of India (FSME India) on Monday hailed the Union Budget for 2021-22 presented by Finance Minister Nirmala Sitharaman to the Parliament, but sought more measures for the key micro, small and medium enterprises (MSMEs).

In a statement, FSME India national president APK Reddy lauded the Finance Minister for allocating Rs 15,700 crore for the MSMEs in the Budget. "But these steps are not enough. The central government should do more as many MSMEs are on the verge of closure," he pointed out.

He sought loans for MSME sector at lower interest rates, procurement of products made by MSMEs by the government agencies and immediate clearing of pending payments to MSME sector by government agencies.

He also demanded revision of NPA norms for MSMEs.